Modeling Mexican agricultural production

C. Shumway and Hongil Lim ()
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Hongil Lim: 21007 Victor St. #17, Torrance, CA 90503, USA

Empirical Economics, 1999, vol. 24, issue 3, 509-528

Abstract: Results of time series tests (including unit root and deterministic and stochastic cointegration tests) imply that a mixture of differenced and cointegrated model specifications are warranted for econometric models of Mexican agricultural supplies and input demands. Test results are sensitive to choice of functional form and the set of regressors. For example, share equations should be estimated using differenced data, but output supply and input demand equations generally should not. Generalized Leontief and quadratic functional forms are preferred over the translog. Symmetry and curvature of a restricted profit function are rejected. Short-run output supplies and input demands are generally inelastic.

Keywords: Functional; form; ·; profit; function; ·; specification; tests; ·; time; series (search for similar items in EconPapers)
JEL-codes: C22 Q11 (search for similar items in EconPapers)
Date: 1999-08-16
Note: received: February 1998/Final version received: November 1998
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Citations: View citations in EconPapers (1)

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