Hostname: page-component-cd9895bd7-gvvz8 Total loading time: 0 Render date: 2024-12-23T04:51:07.707Z Has data issue: false hasContentIssue false
  • English
  • Français

Regional Cotton Acreage Response

Published online by Cambridge University Press:  28 April 2015

Patricia A. Duffy ,
James W. Richardson  and
Michael K. Wohlgenant
Patricia A. Duffy
Affiliation:
Department of Agricultural Economics and Rural Sociology, Auburn University
James W. Richardson
Affiliation:
Department of Agricultural Economics, Texas A&M University
Michael K. Wohlgenant
Affiliation:
Department of Economics and Business, North Carolina State University
Get access Rights & Permissions [Opens in a new window]

Abstract

An econometric model of cotton acreage response was estimated for four distinct production regions in the United States. This work builds on previous work in the area of supply response under government farm programs and provides up-to-date regionalized estimates of own-price elasticity of cotton acreage supply. The own-price variable used in this study is a weighted combination of expected market price and government policy variables. Results indicate regional similarity in response to own price but differences with respect to the prices of alternative enterprises. Differences in regional response to paid diversion are also indicated.

Keywords

cottonsupply responsegovernment programs
Type
Submitted Articles
Information
Journal of Agricultural and Applied Economics , Volume 19 , Issue 1 , July 1987 , pp. 99 - 110
Copyright
Copyright © Southern Agricultural Economics Association 1987

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anderson, T. W. The Statistical Analysis of Time Series, New York: John Wiley & Sons, Inc., 1971.Google Scholar
Bailey, K. W., and Womack, A. W. “Wheat Acreage Response: A Regional Econometric Investigation.” So. J. Agr. Econ., 17,2(1985):171–180.Google Scholar
Belsley, D. A., Kuh, E., and Welsh, R. W. Regression Diagnostics. New York: John Wiley, 1980.CrossRefGoogle Scholar
Dudley, G. E., Donald, J. R., and Barlowe, R. G. “Yield and Acreage Implications for U.S. Cotton.” Cotton Situation, CS-247, August, 1970.Google Scholar
Duffy, P. A. “An Analysis of Alternative Farm Policies for Cotton.” Unpublished Ph.D. Thesis, Texas A&M University, College Station, Texas, December, 1985.Google Scholar
Gardner, B. L. “Futures Prices in Supply Analysis.” Amer. J. Agr. Econ., 58, 1(1976):81–84.CrossRefGoogle Scholar
Houck, J. P., Abel, M. E., Ryan, M. E., Gallagher, P. W., Hoff, R. G., and Penn, J. B. “Analyzing the Impact of Government Programs on Crop Acreage.” USDA-ERS, Technical Bulletin No. 1548, August, 1976.Google Scholar
Houck, J. P., and Ryan, M. E. “Supply Analysis for Corn in the United States: The Impact of Changing Government Programs.” Amer. J. Agr. Econ., 54,2(1972):184–191.Google Scholar
Houck, J. P., and Subotnik, A.. “The U. S. Supply of Soybeans: Regional Acreage Functions.” Agr. Econ. Res., 21(1969):99–108.Google Scholar
Judge, G. G., Griffiths, W. E., Hill, R. C., and Lee, T.. The Theory and Practice of Econometrics. New York: John Wiley, 1980.Google Scholar
Kmenta, J., and Gilbert, R. F. “Estimation of Seemingly Unrelated Regressions with Auto-regressive Disturbances.” Amer. Stat. Assoc., 63(1970):186–196.Google Scholar
Lee, D. R., and Helmberger, P.. “Estimating Supply Response in the Presence of Farm Programs.” Amer. J. Agr. Econ., 67,2(1985):193–202.Google Scholar
Miller, S. E., Capps, O. Jr., and Wells, G. J. “Confidence Intervals for Elasticities and Flexibilities from Linear Equations.” Amer. J. Agr. Econ., 66,3(1984):392–395.CrossRefGoogle Scholar
Morzuch, B. J., Weaver, R. D., and Helmberger, P. G. “Wheat Acreage Supply Response under Changing Farm Programs.” Amer. J. Agr. Econ., 62, 1(1980):29–37.Google Scholar
Nerlove, M. “Estimates of the Elasticities of Supply of Selected Agricultural Commodities.” J. Farm Econ., 38(1956):496–509.CrossRefGoogle Scholar
Parks, R. W. “Efficient Estimation of a System of Regression Equations When Disturbances Are Both Serially and Contemporaneously Correlated.” J. Amer. Stat. Assoc., 66(1967):500–509.Google Scholar
Penn, J. B., and Irwin, G. D. “A Simultaneous Equation Approach to Production Response: Delta Region.” So. J. Agr. Econ., 3,1(1971):115–121.Google Scholar
Prais, S. J., and Winsten, C. B. “Trend Estimators and Serial Correlation.” Chicago: Cowles Commission Discussion Paper No. 383, 1954.Google Scholar
Rausser, G. C., and Just, R. E. “Principles of Policy Modeling in Agriculture.” Modeling Agriculture for Policy Analysis in the 1980's, Kansas City, Missouri: Federal Reserve Bank of Kansas City, 1981. pp. 139–174.Google Scholar
Romain, R. F. “A Commodity Specific Simulation Model for U.S. Agriculture.” Unpublished Ph.D. Dissertation, Texas A&M University, College Station, December, 1983.Google Scholar
Ryan, M. E., and Abel, M. E. “Corn Acreage Response and the Set-Aside Program.” Agr. Econ. Res., 25(April, 1973):45–55.Google Scholar
Shumway, R. C. “Supply, Demand, and Technology in a Multiproduct Industry: Texas Field Crops.” Amer. J. Agr. Econ., 65,3(1983):748–760.Google Scholar
Starbird, I. R. “Cotton: Background for 1985 Farm Legislation.” USDA-ERS, Agriculture Information Bulletin, Number 476, p. 2.Google Scholar
U.S. Department of Agricultural, Economic Research Service, Crop Reporting Board. Crop Production, 1983 Annual Summary. Washington, D.C., 1984.Google Scholar
U.S. Department of Agriculture, Economic Research Service. Economic Indicators of the Farm Sector, Cost of Production, 1985. Washington, D.C., August, 1986. p. 85.Google Scholar
U.S. Department of Agriculture, Economic Research Service. Statistics on Cotton and Related Data 1980. Washington, D.C., March, 1980.Google Scholar
U.S. Department of Agriculture, Economic Research Service. Supplement for 1982 to Statistics on Cotton and Related Data. Washington, D.C., October, 1982.Google Scholar
Wallis, K. F. “Lagged Dependent Variables and Serially Correlated Errors: A Reappraisal of Three-Pass Least Squares.” Rev. Econ. Stat, 49(1967):555–567.CrossRefGoogle Scholar