Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches

Tweeten, Luther G.; Quance, C. Leroy

doi:10.2307/1237584

Cited by 105 publications

(53 citation statements)

References 5 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The elasticity parameter for aggregate farm output is especially important for public policy since it measures the ability of the farm sector to adjust production to changing economic conditions. Tweeten and Quance (1969) note that public policies concerned with the earnings of all farm resources and total farm income must consider the aggregate response of farm output in a dynamic economy. The aggregate response of output to price depends on total resource adjustments in agriculture.…”

Section: Introductionmentioning

confidence: 99%

Modeling Supply Response in a Multiproduct Framework

Ball

1988

American J Agri Economics

View full text Add to dashboard Cite

The paper models multiproduct supply response in agriculture and tests key assumptions traditionally maintained in supply response studies. The technology is approximated by a restricted profit function. The properties of the restricted profit function are imposed during estimation. The hypothesis that maintains the existence of output price and quantity indexes that satisfy the adding‐up property is rejected. The existence of individual production functions for each output is also rejected. Unless joint production is permitted, the estimates of responsiveness of a particular commodity to changes in own price or prices of competing outputs are likely to be considerably understated.

show abstract

Section: Introductionmentioning

confidence: 99%

Modeling Supply Response in a Multiproduct Framework

Ball

1988

American J Agri Economics

View full text Add to dashboard Cite

show abstract

“…Theoretically, the relevant price variables should be the expected prices. Since no information about the structure of market-price expectations is available, we used the prices of the previous year, as is often done for aggregate supply estimations (e.g., Lin, 1992;Tweeten and Quance, 1969).…”

mentioning

confidence: 99%

“…There is some discussion whether higher cross-country estimates reflect inherent underestimation biases in singlecountry studies or overestimation biases in cross-country studies due to missing supply response shifters (Binswanger et al, 1987;Rao, 1989). Aggregate supply responses are lower than those of individual commodities (e.g., Cochrane, 1955;Binswanger, 1994;Singh and Tabatabai, 1992) and short-run elasticities are typically considerably lower than in the long run (Tweeten and Quance, 1969;Cavallo and Mundlak, 1982;Coeymans en Mundlak, 1993). Table 6 for the output change accounting.…”

mentioning

confidence: 99%

Causes of Output Decline in Economic Transition: The Case of Central and Eastern European Agriculture

Macours

Swinnen

2000

Journal of Comparative Economics

147

View full text Add to dashboard Cite

This paper analyzes how policy reforms and other factors have effected agricultural output in Central and Eastern Europe since 1989. Price liberalization and subsidy cuts caused a decline in relative prices for agriculture, contributing to almost half of the output decline. Transition uncertainty and severe drought each caused an average output fall of around 10%. Privatization, farm restructuring, and the associated disruptions affected output through input adjustments and production efficiency changes. Their impact differs between countries, as it is conditional on initial conditions and reform and liberalization in the rest of the economy.

show abstract

“…Tweeten & Quance [4] use a dummy variable technique to estimate irreversible supply functions. Equation (2) is a translation of their original equation for supply analysis into the context of APT using the notation:…”

Section: Pre-co Integration Approaches To Testing For Aptmentioning

confidence: 99%

Poultry Price and Market Analysis in the South West Region of Cameroon

Ukum¹,

Molua²,

Akem³

2018

JFS

View full text Add to dashboard Cite

The price transmission of agricultural product along its supply chain and the integration of its market is an important factor in ensuring the efficiency of markets. The study had as main objective to analyze the price transmission and integration between poultry markets in relation to its supply chain. The data used was basically primary, obtained through administering of sixty questionnaires at random within the various markets in the Sub-divisions within Fako Division. The study constituted and econometric model relating the market price to key price transmission parameters such as farm gate price and the cost of transaction which was used for analysis. Results show that the farm gate price and the transaction cost had a positive relationship with the retail price of poultry products in this division, but with a negligible effect on the retail price as compared to the farm gate price. Also, there existed a high correlation coefficient between poultry markets in this division indicating that the markets are integrated and the existed a level of symmetry in poultry prices in this division. Hence based on these findings, the government should put appropriate measures to ensure that poultry prices remain stable and all actors involved in the poultry sub sector are informed through various communication methods to ensure symmetry in the transmission of poultry prices which improve on the welfare of producers and consumers of poultry products.

show abstract

Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches

Cited by 105 publications

References 5 publications

Modeling Supply Response in a Multiproduct Framework

Modeling Supply Response in a Multiproduct Framework

Causes of Output Decline in Economic Transition: The Case of Central and Eastern European Agriculture

Poultry Price and Market Analysis in the South West Region of Cameroon

Contact Info

Product

Resources

About