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Agricultural Supply Response in ORANI

Philip Adams ()

Review of Marketing and Agricultural Economics, 1987, vol. 55, issue 03, 17

Abstract: In the ORANI general equilibrium model, the supply behaviour of agricultural industries is the crucial element shaping the response of agriculture as a whole to any exogenous shock. In this paper, elasticity formulae which measure agricultural supply behaviour in the model are derived. These elasticities are found to be very sensitive to year-on year changes in the level of agricultural profitability, embodied within the model's data base. The appropriate procedure, therefore, is to construct a synthetic data set designed to capture the agricultural sector in a recent average year. Supply elasticities based upon these data represent the "preferred" estimates of this study.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:ags:remaae:12431

DOI: 10.22004/ag.econ.12431

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