Estimating the long-run supply and demand for agricultural labour in the UK

Kelvin Balcombe and A Prakash

European Review of Agricultural Economics, 2000, vol. 27, issue 2, 153-166

Abstract: In this paper we derive supply and demand equations for labour in the UK agricultural sector. Using a cointegrating vector autoregression framework, identifying restrictions from theory are imposed, and the long-run labour supply and demand relationships are estimated. We find a significant elasticity of substitution between labour and the other factors of production. The minimum wage has had a significant negative impact on the level of labour demanded. Copyright 2000, Oxford University Press.

Date: 2000
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European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

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