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| McKay, Lloyd; Lawrence, Denis; Vlastuin, Chris. |
| The demand for production inputs by the average property in the Australian sheep industry and substitution between these inputs was examined in this paper by estimating the set of input share demand equations derived from a transcendental logarithmic cost function. The following five input categories were examined: labour, land, livestock, capital, and materials and services. While the demand for labour was inelastic with respect to its own price, the demand for capital was elastic. All cross price demand elasticities estimated were less than one. In contrast with earlier Australian studies, the elasticity of substitution between labour and capital was found to be greater than unity. Technical change has been relatively labour and land saving and... |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1980 |
URL: http://purl.umn.edu/9342 |
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| Lawrence, Denis; McKay, Lloyd. |
| Tornqvist quantity indexes of output and input are computed for the period 1952/53 to 1976/77 from Australian Sheep Industry Survey data. The computation includes estimating the annual service flow from durable inputs. Total productivity in the sheep industry is estimated to have increased by 2.9 per cent per annum during this 25-year period. While the ratio of capital employed per unit of labour has increased, materials, services and livestock have been the inputs for which the quantity used has increased most rapidly. On the output side, there has been a move towards greater diversification with both crop and cattle enterprises on 'sheep properties' increasing in relative importance. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries; Productivity Analysis. |
| Ano: 1980 |
URL: http://purl.umn.edu/23059 |
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| McKay, Lloyd; Lawrence, Denis; Vlastuin, Chris. |
| The flexibility of production and the bias of technical change in the Wheat- Sheep Zone has been examined by estimating the system of derived output and input share equations from a translog variable profit function. This analysis was undertaken for three outputs (sheep and wool, crops, and beef cattle and other farm output) and five inputs (labour, materials and services, livestock, capital, and land). The supply of each of these three major groups of farm outputs has been inelastic. Sheep enterprise production has been complementary with cropping while crop and beef cattle outputs have not been complementary. The demand for materials and services inputs has been elastic while the elasticity of demand for labour has been approximately unity. Wool and... |
| Tipo: Journal Article |
Palavras-chave: Production Economics; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1982 |
URL: http://purl.umn.edu/12290 |
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