Agricultural Supply Response in ORANI

In the ORANI general equilibrium model, the supply behaviour of agricultural industries is the crucial element shaping the response of agriculture as a whole to any exogenous shock. In this paper, elasticity formulae which measure agricultural supply behaviour in the model are derived. These elasticities are found to be very sensitive to year-on year changes in the level of agricultural profitability, embodied within the model's data base. The appropriate procedure, therefore, is to construct a synthetic data set designed to capture the agricultural sector in a recent average year. Supply elasticities based upon these data represent the "preferred" estimates of this study.


Issue Date:
1987-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/12431
Published in:
Review of Marketing and Agricultural Economics, Volume 55, Number 03
Page range:
213-229
Total Pages:
17




 Record created 2017-04-01, last modified 2017-04-27

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