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Demand and Substitution of Agricultural Inputs in the Central Corn Belt States

Author

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  • Fernandez-Cornejo, Jorge

Abstract

This study estimates shortrun and longrun elasticities for agricultural inputs, along with elasticities of substitution, using a theoretically consistent restricted profit function and a series of decomposition equations. The model is also disaggregated on the input side, uses a flexible functional form, incorporates the effect of agricultural policies, and introduces a weather index. The methodology is applied to the central Com Belt States and is used to calculate the effect of market-oriented policies to reduce chemical input use. The study finds that producers' responsiveness to price changes of fertilizer and pesticides is very small in the short run and moderate in the long run. Ad valorem taxes would have negligible shortrun and small longrun effects on chemical input use while restructuring Federal programs appears to be effective in the long run.

Suggested Citation

  • Fernandez-Cornejo, Jorge, 1993. "Demand and Substitution of Agricultural Inputs in the Central Corn Belt States," Technical Bulletins 157040, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerstb:157040
    DOI: 10.22004/ag.econ.157040
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    Cited by:

    1. Daniel Schunk & Bruce Hannon, 2004. "Impacts of a carbon tax policy on Illinois grain farms: a dynamic simulation study," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 6(3), pages 221-247, September.
    2. Kinwa-Muzinga, Annie & Mazzocco, Michael A., 2002. "Examining Price Paths Of A Portfolio Of Agro-Biotechnology Seeds: The Effects Of Competition And Farmers' Response," 2002 Annual meeting, July 28-31, Long Beach, CA 19829, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Kinwa-Muzinga, Annie & Mazzocco, Michael A., 2000. "Preferred Price Paths Of Biotechnology-Derived Products: Time And Portfolio Affects," Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26031, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    4. Thomas G. Böcker & Robert Finger, 2017. "A Meta-Analysis on the Elasticity of Demand for Pesticides," Journal of Agricultural Economics, Wiley Blackwell, vol. 68(2), pages 518-533, June.

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