MEASURING THE PRODUCTIVITY OF CAPITAL IN UNITED STATES AGRICULTURE

Cole Gustafson

Southern Journal of Agricultural Economics, 1986, vol. 18, issue 2, 9

Abstract: The agricultural sector has operated in a period of high real interest rates for over half a decade. Some are concerned that this has limited capital availability and stagnated the historic capital for labor substitution occurring in the sector. This study proposes new procedures for estimating the aggregate production function of United States agriculture. Improvements include incorporation of total returns and revised measures of both durable and nondurable capital inputs. Results indicate increasing capital productivity has occurred, but encouraging further capital substitution may not benefit agricultural producers.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 1986
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ageconsearch.umn.edu/record/29784/files/18020187.pdf (application/pdf)

Related works:
Journal Article: Measuring the Productivity of Capital in United States Agriculture (1986)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:sojoae:29784

DOI: 10.22004/ag.econ.29784

Access Statistics for this article

More articles in Southern Journal of Agricultural Economics from Southern Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().