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Dynamic Fertilizer Nutrient Demands for Corn: A Cointegrated and Error-Correcting System

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  • Mark Denbaly
  • Harry Vroomen

Abstract

Past studies of the demand for fertilizer have typically been based on static models which assume that adjustments toward equilibrium are instantaneous. This article builds on past studies by developing a dynamic model of nutrient demands of corn. Unit root and cointegration tests demonstrate that fertilizer demands of corn are dynamic. Therefore, statistically correct estimates can be obtained using a dynamic model. A set of error-correction models for nitrogen, phosphate, and potash use in corn production are estimated. Results provide strong statistical evidence that nutrient demands of corn are price inelastic both in the short and the long run.

Suggested Citation

  • Mark Denbaly & Harry Vroomen, 1993. "Dynamic Fertilizer Nutrient Demands for Corn: A Cointegrated and Error-Correcting System," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 203-209.
    • Handle: RePEc:oup:ajagec:v:75:y:1993:i:1:p:203-209.
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    File URL: http://hdl.handle.net/10.2307/1242968
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    Cited by:

    1. Rami Rawashdeh, 2023. "Estimating short-run (SR) and long-run (LR) demand elasticities of phosphate," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 36(2), pages 239-253, June.
    2. Ribaudo, Marc & Delgado, Jorge & Hansen, LeRoy T. & Livingston, Michael J. & Mosheim, Roberto & Williamson, James M., 2011. "Nitrogen in Agricultural Systems: Implications for Conservation Policy," Economic Research Report 118022, United States Department of Agriculture, Economic Research Service.
    3. Laura M. J. McCann & K. William Easter, 1999. "Differences between Farmer and Agency Attitudes Regarding Policies to Reduce Phosphorus Pollution in the Minnesota River Basin," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 21(1), pages 189-207.
    4. Khor, Ling Yee & Zeller, Manfred, 2012. "Doubts on input quality: The effect of inaccurate fertilizer content on the estimation of production functions and technical efficiency," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126212, International Association of Agricultural Economists.
    5. Williamson, James M., 2011. "The Role of Information and Prices in the Nitrogen Fertilizer Management Decision: New Evidence from the Agricultural Resource Management Survey," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(3), pages 1-21.
    6. Cloé Garnache & Scott M. Swinton & Joseph A. Herriges & Frank Lupi & R. Jan Stevenson, 2016. "Solving the Phosphorus Pollution Puzzle: Synthesis and Directions for Future Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(5), pages 1334-1359.
    7. Steen, Frode & Salvanes, Kjell G., 1999. "Testing for market power using a dynamic oligopoly model," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 147-177, February.
    8. Daberkow, Stan G. & McBride, William D., 2004. "Corn Producers´ Response To The 2001 Nitrogen Fertilizer Price Increase," 2004 Annual meeting, August 1-4, Denver, CO 20271, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Mergos, G. J. & Stoforos, Ch. E., 1997. "Fertilizer demand in Greece," Agricultural Economics, Blackwell, vol. 16(3), pages 227-235, August.
    10. Austin, Darran & Cao, Kay & Rys, Gerald, 2006. "Modelling Nitrogen Fertiliser Demand in New Zealand," 2006 Conference, August 24-25, 2006, Nelson, New Zealand 31970, New Zealand Agricultural and Resource Economics Society.
    11. Hansen, Lars Gårn, 2004. "Nitrogen Fertilizer Demand from Danish Crop Farms - Regulatory Implications of Farm Heterogeneity," MPRA Paper 48366, University Library of Munich, Germany.
    12. Rezek, Jon P. & Perrin, Richard K., 2004. "Environmentally Adjusted Agricultural Productivity in the Great Plains," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(2), pages 1-24, August.
    13. Melfou, Katerina, 2005. "Regulating Pesticides in Greek Agriculture," 89th Seminar, February 2-5, 2005, Parma, Italy 234619, European Association of Agricultural Economists.
    14. Sohngen, Brent & King, Kevin W. & Howard, Gregory & Newton, John & Forster, D. Lynn, 2015. "Nutrient prices and concentrations in Midwestern agricultural watersheds," Ecological Economics, Elsevier, vol. 112(C), pages 141-149.
    15. McCann, Laura M.J. & Easter, K. William, 1998. "Estimating Transaction Costs Of Alternative Policies To Reduce Phosphorous Pollution In The Minnesota River," Staff Papers 13919, University of Minnesota, Department of Applied Economics.
    16. Daberkow, Stan G. & Lambert, Dayton M. & Musser, Wesley N., 2007. "U.S. Corn Producer’s Response to Increased Energy Prices: Evidence from Producer Surveys in 2001 and 2005," Western Economics Forum, Western Agricultural Economics Association, vol. 6(1), pages 1-14.

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