Agricultural Supply Response in the Argentinean Economy

Alberto Herrou-Aragón
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Alberto Herrou-Aragón: Consultor Internacional

ECONÓMICA, 2007, vol. LIII, issue 1-2, pages 73-100

Abstract: This paper estimates a reduced-form agricultural supply function for the Argentinean economy within the framework of a general equilibrium model. The results of the estimation using data covering the years 1939-1984 show that there is a statistically significant long-run supply price elasticity of agricultural output of about 1.3, and that the convergence to an equilibrium state is achieved in about nine years. The estimated agricultural supply price elasticity is found to be about three times larger than previous estimates using partial equilibrium models.

Keywords: General equilibrium; Minkowski matrix; cointegration analysis; Bartlett correction factor; eigenvalue stability tests (search for similar items in EconPapers)
JEL-codes: C01 O13 O54 (search for similar items in EconPapers)
Date: 2007

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Persistent link: http://EconPapers.repec.org/RePEc:lap:journl:556

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