TY - JOUR
T1 - Estimating disequilibrium cost elasticities in agricultural production
AU - Toichoa-Buaha, Gabriel
AU - Apland, Jeffrey
PY - 1996/11
Y1 - 1996/11
N2 - 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.
AB - 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.
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U2 - 10.1111/j.1744-7976.1996.tb00148.x
DO - 10.1111/j.1744-7976.1996.tb00148.x
M3 - Article
AN - SCOPUS:17644418113
SN - 0008-3976
VL - 44
SP - 237
EP - 249
JO - Canadian Journal of Agricultural Economics
JF - Canadian Journal of Agricultural Economics
IS - 3
ER -