This report is the final one of a series of three on the agricultural impacts of making ethanol from grain. The previous two reports provided preliminary assessments of the issues and a detailed analysis of joint-product use. The Analysis and Applications Division of the Solar Energy Research Institute (SERI) is also sponsoring work on the direct combustion of crop residues and the cultivation of specialized energy crops. The autho.rs wish to thank Bert Mason, Wallace Tyner, and Richard Carlson for their helpful comments.
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ABSTRACTAggregate supply equations are estimated using four alternative methods to segment the output price variable to measure short-run response of farm output to increasing and decreasing prices. Null hypotheses of equal price response coefficients for falling and rising prices could not be rejected. The four alternative methods used to measure the response to rising and falling prices provided no consistent evidence to reject the null hypothesis of no difference in response. No method of segmentation used appeared to be clearly superior to the others, but shortcomings in application of some of the methods were apparent.
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