Re-estimating Supply Elasticities of Selected Agricultural Commodities

Felix Chan, Elizabeth L. Jackson (), Richard Dwumfour () and Laszlo Matyas ()
Additional contact information
Elizabeth L. Jackson: Curtin University
Richard Dwumfour: Curtin University

A chapter in Seven Decades of Econometrics and Beyond, 2025, pp 77-105 from Springer

Abstract: Abstract Marc Nerlove in his seminal work published in 1956 (Nerlove, 1956) explored the relevance of price expectations in agricultural production and how these may affect supply elasticities. This chapter extends the ‘Nerlovian model’ by taking into account some recent developments in panel data econometrics, volatility modelling and data availability. These new models are then estimated and tested using some FAO data sets. It turns out that although these fresh results shed a slightly different and more nuanced light on Nerlove’s original model, his approach is still relevant these days almost seven decades after its original insemination.

Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:spr:adschp:978-3-031-92699-0_3

Ordering information: This item can be ordered from
http://www.springer.com/9783031926990

DOI: 10.1007/978-3-031-92699-0_3

Access Statistics for this chapter

More chapters in Advanced Studies in Theoretical and Applied Econometrics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().