Estimating disequilibrium cost elasticities in agricultural production

Gabriel Toichoa-Buaha, Jeffrey Apland

Research output: Contribution to journalArticlepeer-review

Abstract

A restricted cost function is estimated using annual data for western Canadian agriculture over the period 1961-84. Using the parameter estimates, disequilibrium cost elasticities are calculated. The elasticities for the sector indicate that the ex ante market prices of quasi-fixed inputs were higher than their shadow values. That is, quasi-fixed factors were underutilized during the sample period. Excess agricultural land contributed most to the cost of disequilibrium.

Original languageEnglish (US)
Pages (from-to)237-249
Number of pages13
JournalCanadian Journal of Agricultural Economics
Volume44
Issue number3
DOIs
StatePublished - Nov 1996

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