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Statistical Tests Of The Non-Reversibility Of Agricultural Supply Hypothesis

Author

Listed:
  • Woods, Mike
  • Tweenten, Luther
  • Ray, Daryll E.
  • Parvin, Greg

Abstract

Aggregate supply equations are estimated using the Wolffram and Houck methods to segment the output price into separate independent variables for increasing and decreasing prices. Null hypotheses of equal price response coefficients for falling and rising prices could not be rejected. The same conclusion was reached using structural stability tests.

Suggested Citation

  • Woods, Mike & Tweenten, Luther & Ray, Daryll E. & Parvin, Greg, 1980. "Statistical Tests Of The Non-Reversibility Of Agricultural Supply Hypothesis," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278858, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea80:278858
    DOI: 10.22004/ag.econ.278858
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    File URL: https://ageconsearch.umn.edu/record/278858/files/aaea-1980-047.pdf
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    References listed on IDEAS

    as
    1. Luther Tweeten & Leroy Quance, 1971. "On Statistical Intolerance in Supply Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(4), pages 675-677.
    2. Oscar R. Burt, 1971. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(4), pages 674-675.
    3. James P. Houck, 1977. "An Approach to Specifying and Estimating Nonreversible Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(3), pages 570-572.
    4. Tweeten, Luther G & Quance, C Leroy, 1969. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches," American Economic Review, American Economic Association, vol. 59(2), pages 175-183, May.
    5. Luther G. Tweeten & C. Leroy Quance, 1969. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(2), pages 342-352.
    6. Rudolf Wolffram, 1971. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches—Some Critical Notes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(2), pages 356-359.
    7. Bruce Traill & David Colman & Trevor Young, 1978. "Estimating Irreversible Supply Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(3), pages 528-531.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Demand and Price Analysis;

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