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Supply Response Of Australian Wheat Growers

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  • B. A. Sanderson
  • J. J. Quilkey
  • J. W. Freebairn

Abstract

Alternative specifications of models of the supply response of Australian wheat growers and their economic implications are considered in terms of the existence and nature of production lags, and the choice between expected prices and expected gross returns as the preferred explanator of producers' response to changing economic conditions. The analysis indicates that there are lags which are due primarily to the difficulties and costs of rapid adjustment rather than to the time required to revise expectations. The statistical results were similar for the alternative specifications of gross margins and prices as the economic decision variables. However, the price elasticities derived using the gross margins specification were about a third of those using the prices specification. The gross margins specification yielded additional information in the form of yield and input cost elasticities.
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Suggested Citation

  • B. A. Sanderson & J. J. Quilkey & J. W. Freebairn, 1980. "Supply Response Of Australian Wheat Growers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(2), pages 129-140, August.
    • Handle: RePEc:bla:ajarec:v:24:y:1980:i:2:p:129-140
    DOI: j.1467-8489.1980.tb00377.x
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    1. Griffiths, William E. & Anderson, Jock R., 1978. "Specification Of Agricultural Supply Functions - Empirical Evidence On Wheat In Southern N.S.W," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 1-14, August.
    2. M. H. Pesaran, 1974. "On the General Problem of Model Selection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(2), pages 153-171.
    3. J.H. Duloy & A.S. Watson, 1964. "Supply Relationships In The Australian Wheat Industry: New South Wales," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 8(1), pages 28-45, June.
    4. Willard F. Williams, 1953. "An Empirical Study of Price Expectations and Production Plans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 35(3), pages 355-370.
    5. Duloy, J.H. & Watson, Alistair S., 1964. "Supply Relationships In The Australian Wheat Industry: New South Wales," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 8(1), pages 1-18, June.
    6. Powell, Alan A. & Gruen, Fred H.G., 1966. "Problems in Aggregate Agricultural Supply Analysis: II - Preliminary Results for Cereals and Wool," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(04), pages 1-16, December.
    7. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    8. Timothy J. Ryan, 1974. "A Note On Victorian Wheat Yield Distributions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 18(2), pages 144-147, August.
    9. repec:bla:ecorec:v:52:y:1976:i:140:p:462-82 is not listed on IDEAS
    10. Ryan, Timothy J., 1974. "A Note On Victorian Wheat Yield Distributions," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 18(2), pages 1-4, August.
    11. Brian S. Fisher, 1975. "Supply Response In The Wheat‐Belt Of South‐Eastern Australia: The Impact Of Delivery Quotas On Wheat Plantings," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 81-93, August.
    12. Fisher, Brian S., 1975. "Supply Response In The Wheat-Belt Of South-Eastern Australia: The Impact Of Delivery Quotas On Wheat Plantings," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 1-13, August.
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    Cited by:

    1. Culas, Richard J., 2014. "Determinants of land use in wheat production: The Australian wheat-sheep zone," 2014 Conference (58th), February 4-7, 2014, Port Macquarie, Australia 165826, Australian Agricultural and Resource Economics Society.
    2. Agbola, Frank W. & Evans, Nigel, 2012. "Modelling rice and cotton acreage response in the Murray Darling Basin in Australia," Agricultural Systems, Elsevier, vol. 107(C), pages 74-82.
    3. Fisher, Brian S. & Munro, Robyn G., 1983. "Supply Response In The Australian Extensive Livestock And Cropping Industries: A Study Of Intentions And Expectations," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 1-11, April.
    4. Griffiths, William & Thomson, Graeme & Coelli, Tim, 1995. "Predicting Output From Seemingly Unrelated Area And Yield Equations," 1995 Conference (39th), February 14-16, 1995, Perth, Australia 170821, Australian Agricultural and Resource Economics Society.
    5. Kim, Youngho & Lichtenberg, Erik & Newburn, David, 2022. "Payments and Penalties in Ecosystem Services Programs," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322103, Agricultural and Applied Economics Association.
    6. Ather Maqsood Ahmed & Rizwana Siddiqui, 1994. "Supply Response in Pakistan with "Endogenous" Technology," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(4), pages 871-888.
    7. Anderson, Jock R. & Dillon, John L. & Hazell, Peter B.R. & Cowie, A.J. & Wan, G.H., 1988. "Changing Variability in Cereal Production in Australia," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), pages 1-17, December.
    8. Ingco, Merlinda D. & Mitchell, Donald O., 1992. "How EC 1992 and reforms of the common agricultural policy would affect developing countries'grain trade," Policy Research Working Paper Series 848, The World Bank.
    9. Culas, Richard J., 2011. "Area response in wheat production: The Australian wheat-sheep zone," AFBM Journal, Australasian Farm Business Management Network, vol. 8(1), pages 1-7, October.
    10. repec:phd:pjdevt:jpd_1992_vol__xix_no__2-d is not listed on IDEAS

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