The Role of Anticipated and Unanticipated Prices in Explaining Agricultural Supply Response
Utpal Vasavada and
No 278401, 1986 Annual Meeting, July 27-30, Reno, Nevada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
The traditional supply response function is modified to include anticipated and unanticipated prices. Agricultural supply response functions for grains and livestock are specified and estimated within a rational expectations framework. Test results suggest that supply does not respond to anticipated prices in the same way as unanticipated prices for both commodities considered.
Keywords: Agricultural and Food Policy; Agricultural Finance (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea86:278401
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