Assessing the impacts of stochastic trend in crop acreage supply response model

Murali Adhikari, Krishna Paudel, Jack Houston and James Bukenya

Applied Economics, 2008, vol. 40, issue 3, 295-302

Abstract: This paper demonstrates the need to revisit the way a technical change has been incorporated in a crop acreage supply response model. Three different versions of technological change were introduced and compared: no trend, deterministic trend, and stochastic trend. The results confirm the need to treat a technology variable as a stochastic trend for better results in crop acreage supply response model specifications.

Date: 2008
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DOI: 10.1080/00036840500461881

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