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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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| Vlastuin, Chris; Lawrence, Denis; Quiggin, John C.. |
| Theoretical, conceptual and estimational issues relevant to economies of size studies are discussed in this paper. Some of the issues discussed are the effects of technological change on the position and shape of the average cost curve over time, the relationship between farm size and relative economic efficiency and frontier versus average estimation techniques. There is also a brief review of various measurement and specification problems. In addition, empirical estimates of the extent of size economies were derived from a flexible translog production function using ASIS data for the New South Wales Wheat/Sheep Zone for the years 1966-67, 1975-76 and 1976-77. Estimation of the production function revealed that, when the relatively fixed inputs of... |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 1982 |
URL: http://purl.umn.edu/12293 |
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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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