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Constant‐Quality Price Indices For Agricultural Inputs: Tractors And Fertilisers Revisited

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  • D. Cooper
  • A. J. Rayner
  • D. Greenaway

Abstract

This paper employs the hedonic regression technique to construct constant‐quality price indices and quality change indices for two agricultural inputs ‐ tractors and fertilisers ‐ over the period since World War II in the UK. The technique is described and related to productivity measurement in order to show its relevance for measuring price changes for inputs subject to technological improvement. Problems of application are discussed with reference to the two inputs. The constant‐quality price indices derived for tractors and fertilisers are briefly compared with available ‘official’ price series

Suggested Citation

  • D. Cooper & A. J. Rayner & D. Greenaway, 1993. "Constant‐Quality Price Indices For Agricultural Inputs: Tractors And Fertilisers Revisited," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(1), pages 67-81, January.
    • Handle: RePEc:bla:jageco:v:44:y:1993:i:1:p:67-81
    DOI: 10.1111/j.1477-9552.1993.tb00251.x
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    1. repec:ucp:bknber:9780226304557 is not listed on IDEAS
    2. Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1.
    3. Gibbons, M. & Coombs, R. & Saviotti, P. & Stubbs, P. C., 1982. "Innovation and technical change : A case study of the U.K. tractor industry, 1957 1977," Research Policy, Elsevier, vol. 11(5), pages 289-310, October.
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    Cited by:

    1. D. N. Cooper, 1994. "Net Investment In Agricultural Tractors," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(3), pages 339-350, September.
    2. Thirtle, Colin & Ball, V. Eldon & Bureau, Jean-Christophe & Townsend, Robert, 1995. "Accounting for Productivity Differences in European Agriculture: Cointegration, Multilateral TFPs and R&D Spillovers," 1994 Conference, August 22-29, 1994, Harare, Zimbabwe 183441, International Association of Agricultural Economists.
    3. David Schimmelpfennig & Colin Thirtle, 1999. "The Internationalization Of Agricultural Technology: Patents, R&D Spillovers, And Their Effects On Productivity In The European Union And United States," Contemporary Economic Policy, Western Economic Association International, vol. 17(4), pages 457-468, October.
    4. C. R. Dryburgh & C. J. Doyle, 1995. "Distribution Of Research Gains Under Different Market Structures: The Impact Of Technological Change Within The Uk Dairy Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 46(1), pages 80-96, January.

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