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Dynamic Factor Demands for Aggregate Southeastern United States Agriculture

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  • Taylor, Timothy G.
  • Monson, Michael J.

Abstract

A four equation input demand system for aggregate Southeastern United States agriculture consistent with dynamic optimizing behavior is specified and estimated. Labor and materials are considered as variable inputs while land and capital are treated as quasi-fixed inputs. It is found that the adjustment rates for capital and land differ considerably and are interdependent. Further, the data appear consistent with the existence of an aggregate production technology and the hypothesized optimizing behavior.

Suggested Citation

  • Taylor, Timothy G. & Monson, Michael J., 1985. "Dynamic Factor Demands for Aggregate Southeastern United States Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(2), pages 1-9, December.
    • Handle: RePEc:ags:sojoae:37202
    DOI: 10.22004/ag.econ.37202
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Howard, Wayne H. & Shumway, C. Richard, 1987. "A Comparison of Two Functional Forms in Dynamic Analysis," Working Papers 244829, University of Guelph, Department of Food, Agricultural and Resource Economics.
    2. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    3. Lin, Ni & Shumway, C. Richard, 2000. "Asset Fixity In U.S. Agriculture: Robustness To Functional Form," Ag Econ Series 12967, Washington State University, School of Economic Sciences.
    4. Boonyanam, Nararuk, 2020. "Agricultural economic zones in Thailand," Land Use Policy, Elsevier, vol. 99(C).
    5. Stefanou, Spiro E., 2009. "A Dynamic Characterization of Efficiency," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 10(1), pages 1-16.
    6. Taylor, Timothy G. & Kalaitzandonakes, Nicholas G., 1990. "A Test Of Asset Fixity In Southeastern U.S. Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-7, July.
    7. Agbola, Frank W., 2005. "Optimal intertemporal investment in Australian agriculture: An empirical investigation," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 6(2), pages 1-11.
    8. Buhr, Brian L. & Kim, Hanho, 1997. "Dynamic adjustment in the US beef market with imports," Agricultural Economics, Blackwell, vol. 17(1), pages 21-34, October.
    9. Wayne H. Howard & C. Richard Shumway, 1988. "Dynamic Adjustment in the U.S. Dairy Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(4), pages 837-847.
    10. Paris, Quirino & Caputo, Michael R., 1995. "The Rhetoric Of Duality," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-20, July.
    11. Frank W. Agbola & Stephen R. Harrison, 2005. "Empirical investigation of investment behaviour in Australia's pastoral region," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 47-62, March.
    12. Anthony N. Rezitis & William E. Foster & A. Blake Brown, 1999. "A Cost Function Approach to Dynamic Duality: An Application to the US Cigarette Manufacturing Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 106-123, January.
    13. Alejandro Onofri & Lilyan Fulginiti, 2008. "Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture," Journal of Productivity Analysis, Springer, vol. 30(1), pages 13-28, August.
    14. Mundlak, Yair, 1999. "Production and Supply (Revised)," Working Papers 232819, Hebrew University of Jerusalem, Center for Agricultural Economic Research.
    15. Pietola, Kyosti S. & Myers, Robert J., 1997. "Investment Under Uncertainty and Dynamic Adjustment in the Finnish Pork Industry," Staff Paper Series 201221, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    16. Howard, Wayne H. & Shumway, C. Richard, 1989. "Nonrobustness Of Dynamic Dual Models Of The U.S. Dairy Industry," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(1), pages 1-8, April.
    17. Aradhyula, Satheesh Venkata, 1989. "Policy structure, output supply and input demand for US crops," ISU General Staff Papers 198901010800009909, Iowa State University, Department of Economics.
    18. Shumway, C. Richard, 1995. "Recent Duality Contributions In Production Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-17, July.

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    Keywords

    Farm Management;

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