NDLI: Demand and Substitution of Agricultural Inputs in the Central Corn Belt States

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Demand and Substitution of Agricultural Inputs in the Central Corn Belt States

Content Provider	AgEcon Search
Author	Fernandez-Cornejo, Jorge
Abstract	This study estimates shortrun and longrun elasticities for agricultural inputs, along withelasticities of substitution, using a theoretically consistent restricted profit function anda series of decomposition equations. The model is also disaggregated on the inputside, uses a flexible functional form, incorporates the effect of agricultural policies,and introduces a weather index. The methodology is applied to the central Com BeltStates and is used to calculate the effect of market-oriented policies to reduce chemicalinput use. The study finds that producers' responsiveness to price changes of fertilizerand pesticides is very small in the short run and moderate in the long run. Advalorem taxes would have negligible shortrun and small longrun effects on chemicalinput use while restructuring Federal programs appears to be effective in the long run.
Related Links	https://ageconsearch.umn.edu/record/157040/files/tb1816.pdf
Page Count	34
File Format	PDF
DOI	10.22004/ag.econ.157040
Language	English
Publisher Date	1993-01-01
Access Restriction	Open
Subject Keyword	Applied Economics Agricultural Economics Agri-economic Open Access Database Research in Applied Economics Research in Agricultural Economics Higher Study On Agricultural Economics Higher Study On Applied Economics Agricultural Research Documents Agrarian Economy & Research Higher Study Agri-economics Research in Economics Agri-economic Open Access Repository Statistics in Agricultural Economics Input Demand Input Substitution Decomposition Methods Imposing Curvature Conditions Shortrun and Longrun Elasticities Chemical Inputs Agribusiness Agricultural and Food Policy Demand and Price Analysis
Content Type	Text
Resource Type	Report
Subject	Economics, Econometrics and Finance

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