supply response of individual crops and aggregate production

  • supply response of individual crops and aggregate

    Modelling Supply Response Most studies of supply response, aggregate or individual crop, are based on time-series data, and either use theThe supply function of the agricultural sector can be written as: Q*= α0 + α1P*+ ε (11) In (11), Q* is expected aggregate agricultural production and P* is...

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  • Supply Response, Risk and Institutional Change in Nigerian

    production and supply response in Nigerian agriculture to include both the standard arguments and risk. Specifically the study attempts to: ♦ Determine whether Nigerian agricultural supply is price and price risk responsive; ♦ Examine the subaggregate and selected individual crop supply response of Nigerian agriculture to price and price risk; and

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  • Aggregate Supply Response in Indian Agriculture: Some

    aggregate argicultural supply response is to changes in agricultural terms of trade. While this paper shows that the elasticity of aggregate agricultural output with respect to the agricultural terms of trade is positive and statistically significant, it also brings out the fact that non-price factors are equally if not more important. Thus, it appears

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  • Agricultural supply response: A survey ScienceDirect

    3/1/1989· Supply response to output prices at the aggregate and at the crop levels is considered first. Crop-specific acreage elasticities range between zero and 0.8 in the short run while long-run elasticities tend to be higher—between 0.3 and 1.2. Yield elasticities are smaller and less stable than acreage elasticities.

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  • Supply Response of Selected Agricultural Export

    individual crops, sub-sectoral aggregates and commodity exports using the Two-Stage Least Squares (TSLS) and Seemingly Unrelated Regression Method (SURM) as tools for evaluating the effects of sub-sectoral aggregates on Nigerian agriculture between 1970 and 1989. The estimates confirm two results in the supply response literature: Firstly, Short-run price elasticities of individual crops are smaller

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  • Aggregate Supply Response in Indian Agriculture: Some

    aggregate argicultural supply response is to changes in agricultural terms of trade. While this paper shows that the elasticity of aggregate agricultural output with respect to the agricultural terms of trade is positive and statistically significant, it also brings out the fact that non-price factors are equally if not more important. Thus, it appears

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  • Supply Response of Selected Agricultural Export

    individual crops, sub-sectoral aggregates and commodity exports using the Two-Stage Least Squares (TSLS) and Seemingly Unrelated Regression Method (SURM) as tools for evaluating the effects of sub-sectoral aggregates on Nigerian agriculture between 1970 and 1989. The estimates confirm two results in the supply response literature: Firstly, Short-run price elasticities of individual crops are smaller

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  • A Supply Response Model for Perennial Crops

    A SUPPLY RESPONSE MODEL FOR PERENNIAL CROPS / 479 from the production of annual crops by (1) the long gestation period between initial input and first output, (2) an extended period of output flowing from the initial production or invest-ment decision, and (3) eventually a gradual deterioration (usually) of the productive ca-pacity of the plants.

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  • Aggregate Export and Food Crop Supply Response in Tanzania

    Modelling Supply Response Most studies of supply response, aggregate or individual crop, are based on time-series data, and either use the Nerlove (1958) model devised for single commodities or the method developed by Griliches (1960) for aggregate supply response. Seven studies in

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  • (PDF) Aggregate Supply Response to Price Incentives:

    Abstract: Increased aggregate supply response has been one of the food policy objectives of the government of Kenya. Increased supply response enhances food security and household incomes. The...

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  • The Nigerian economy: Response of agriculture to

    results in the supply response literature: (1) short-run price elasticities of individual crops are smaller than the long-run elasticities and (2) commodity sub-sectoral aggregates do not respond significantly to prices as individual crops. The results also show that the responses of food crops are sensitive to Nigeria’s agro-climate and the traditional cropping patterns of Nigerian farmers, who are mainly

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  • A Framework for Studying the Supply Response of Perennial

    supply response functions. Traditionally these supply response functions have been based on Nerlove's seminaL contributions (Nerlove 1958). A stylized version of a Nerlovian supply model consists of: (i) a partial adjustment equation relating the change in the area planted, A(t), to the desired or equilibruim area, A (t);

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  • Understanding supply factors for agricultural products

    Market supply or aggregate supply represents the amount of a product all producers are willing to sell over a range of prices at any given time period. At an individual level, a producer may be willing to sell a particular quantity as long as the market price is equal to or

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  • THE EFFECTS OF A SHIFT IN AGGREGATE SUPPLY

    Firms and workers may at first respond to the higher level of prices by raising their expectations of the price level and setting higher nominal wages. In this case, firms’ costs will rise yet again, and the short run aggregate-supply curve will shift further to the left, making the problem of stagflation even worse.

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  • (PDF) The Effect of Price and Non-Price Factors on

    The range of long-run production response to the irrigation variable is 0.2 to 0.38 for cash and cereal crops while it is 0.9 in the case of Vegetables. The long-run negative elasticity of the irrigation variable in the case of Rice and Maize looks unusual but it can be explained in the case of Nepal.

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