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THE RESPONSIVENESS OF U.S. RICE ACREAGE TO PRICE AND PRODUCTION COSTS AgEcon
Salassi, Michael E..
Ordinary least squares and seemingly unrelated regression procedures were used to analyze the impacts of changes in rice prices and production costs on U.S. rice planted acreage. National and regional response models were estimated over the 1970-92 period. Supply-inducing prices of rice were estimated as a function of effective rice support prices and seasonal average market prices. Expected production costs per acre were estimated using lagged actual total variable cash production expenses per acre adjusted by the previous 3-year average annual change in variable expenses. Estimated short-run price and production cost elasticities were found to be inelastic at the national level. However, the magnitude of the production cost elasticities were found to be...
Tipo: Journal Article Palavras-chave: Rice; Acreage response function; Price elasticity; Crop Production/Industries.
Ano: 1995 URL: http://purl.umn.edu/15284
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