Modelling an aggregate agricultural panel with application to US farm input demands

Jesse Tack (), Rulon D. Pope, Jeffrey LaFrance () and Ricardo Cavazos-Cepeda ()

European Review of Agricultural Economics, 2015, vol. 42, issue 3, 371-396

Abstract: A recent class of factor demand models is discussed and used to analyse US state-level production data. The approach accommodates output risk, heterogeneous technologies, technological change, endogenous variables, aggregation across agents and more general flexible functional forms than previous models. We find the approach to flexibility found in the consumer literature empirically useful in the analysis of producer behaviour as our results suggest that standard flexible models that have been ubiquitous in agricultural and industrial research are strongly rejected here in favour of a more general and flexible specification. Further, there is substantial heterogeneity of conditional own-price elasticities across states.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/erae/jbu026 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Modeling an Aggregate Agricultural Panel with Application to U.S. Farm Input Demands (2014)
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:oup:erevae:v:42:y:2015:i:3:p:371-396.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

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

More articles in European Review of Agricultural Economics from Oxford University Press and the European Agricultural and Applied Economics Publications Foundation Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().