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Kansas Grain Supply Response to Economic and Biophysical Factors, 1977-2007 AgEcon
Boussios, David; Barkley, Andrew P..
This research identifies and quantifies the impact of biophysical and economic variables on Kansas grain supply for the period 1977- 2007. This research estimates total supply response by aggregating yield and acreage responses. Previous methods have effectively analyzed the response of crop supply through either acreage or yield responses. However, the method proposed in this research incorporates both yield and acreage response to various production variables through recursive modeling. The results include the negative impact of acreage expansion on aggregate yields and thus the impact on total supply. The results also show that previous methods underestimate supply response elasticities by as much as 97%. Furthermore, this research estimates supply...
Tipo: Presentation Palavras-chave: Yield; Acreage; Supply; Grain; Extensive Margin; Producer Expectations; Climate; Weather; Agribusiness; Agricultural and Food Policy; Crop Production/Industries; Environmental Economics and Policy; Land Economics/Use; Production Economics; Resource /Energy Economics and Policy.
Ano: 2012 URL: http://purl.umn.edu/124385
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