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| Warjiyo, Perry; Huffman, Wallace E.. |
| The paper presents an econometric model of dynamic agricultural input demand functions that includes research based technical change and autoregressive disturbances and fits the model to data for a set of state aggregates pooled over 1950-82. The methodological approach is one of developing a theoretical foundation for a dynamic input demand system and accepting state aggregate behavior as approximated by nonlinear adjustment costs and long-term profit maximization. Although other studies have largely ignored autocorrelation in dynamic input demand systems, the results show shorter adjustment lags with autocorrelation than without autocorrelation. Dynamic input demand own-price elasticities for six input groups are inelastic, and the demand functions... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1995 |
URL: http://purl.umn.edu/18277 |
