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Dynamic Factor Demands for Aggregate Southeastern United States Agriculture

Published online by Cambridge University Press:  28 April 2015

Timothy G. Taylor  and
Michael J. Monson
Timothy G. Taylor
Affiliation:
Food and Resource Economics Department, University of Florida
Michael J. Monson
Affiliation:
Food and Resource Economics Department, University of Florida
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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.

Keywords

dynamic dualityfactor demandsquasi-fixed inputs
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 17 , Issue 2 , December 1985 , pp. 1 - 10
Copyright
Copyright © Southern Agricultural Economics Association 1985

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