Investment in U.S. Agriculture

• Utpal Vasavada

  University of Georgia

• Robert G. Chambers

  University of Maryland

抄録

Resource adjustment problems in U.S. agriculture are motivated against the background of the farm problem. The adjustment cost hypothesis is invoked to specify and estimate consistently a system of dynamic investment demand and output supply equations by utilizing recent advances in dynamic duality theory. The investment demand equations assume the form of a multivariate flexible accelerator. Results indicate that labor, capital services, and land exhibited quasi‐fixity while intermediate materials were a variable factor. This can be construed as a form of asset fixity within aggregate U.S. agriculture. The univariate flexible accelerator hypothesis is rejected.

収録刊行物

• American Journal of Agricultural Economics

  American Journal of Agricultural Economics 68 (4), 950-960, 1986-11

  Wiley

キーワード

• Economics and Econometrics
• Agricultural and Biological Sciences (miscellaneous)

詳細情報

• CRID: 1360001114128332672
• NII論文ID: 30004480356
• DOI: 10.2307/1242141
• ISSN: 14678276
• ISSN: 00029092
• Web Site: https://onlinelibrary.wiley.com/doi/pdf/10.2307/1242141
• データソース種別:
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  • CiNii Articles