AN ANALYTICAL FRAMEWORK FOR EXAMINING INVESTMENT IN AGRICULTURE

Michael LeBlanc and James Hrubovcak

No 277581, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: A theoretically consistent analytical framework for examining agricultural investment is developed. Results from duality theory on restricted variable profit functions are incorporated into a longrun dynamic optimization framework where input use is affected by external adjustment costs. The complete system allows the calculation of optimal input use, short-, intermediate-, and longrun input demand elasticities, output, profit, and the timepath of input adjustments to optimal levels.

Keywords: Agribusiness; Agricultural and Food Policy; Agricultural Finance (search for similar items in EconPapers)
Pages: 21
Date: 1984-05
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:277581

DOI: 10.22004/ag.econ.277581

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