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000022910 245__ $$aSUPPLY RESPONSE IN THE AUSTRALIAN SHEEP INDUSTRY: A CASE FOR DISAGGREGATION AND DYNAMICS
000022910 260__ $$c1980-12
000022910 269__ $$a1980-12
000022910 300__ $$a14
000022910 336__ $$aJournal Article
000022910 446__ $$aEnglish
000022910 520__ $$aMicroeconomic capital goods theory was utilised to provide a theoretical framework on which a dynamic econometric model was based. Econometric procedures were then employed in an analysis of sheep producers' decision making regarding the annual supplies of wool, lamb and mutton, and annual changes in the inventory levels of sheep, lambs and ewes maintained for breeding purposes. Estimates show that wool prices provide the long-run stimulus for increases and decreases in the sheep flock while mutton and lamb prices are responsible for short-run changes in flock composition. Substitution between sheep and beef cattle is of considerable importance although no significant substitution between sheep and cropping could be found. Seasonal conditions proved to be an important short-run supply shifter, affecting both numbers and composition of the sheep flock.
000022910 650__ $$aDemand and Price Analysis
000022910 650__ $$aProductivity Analysis
000022910 700__ $$aReynolds, R.G.
000022910 700__ $$aGardiner, B.
000022910 773__ $$dDecember 1980$$j 24$$k 3$$o209$$q196$$tAustralian Journal of Agricultural Economics
000022910 8564_ $$s744538$$uhttp://ageconsearch.umn.edu/record/22910/files/24030196.pdf
000022910 887__ $$ahttp://purl.umn.edu/22910
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  Previous issue date: 1980-12
000022910 982__ $$gAustralian Journal of Agricultural Economics>Volume 24, Number 03, December 1980
000022910 980__ $$a429