A TEST OF ASSET FIXITY IN SOUTHEASTERN U.S. AGRICULTURE

A test for static equilibrium developed by Schankerman and Nadiri is used to evaluate the hypothesis that land and capital in aggregate southeastern U.S. agriculture behave as fixed inputs. Empirical results reject the hypothesis that these two inputs are at their long-run equilibrium levels implied by observed prices. Thus, some degree of asset fixity may be concluded.


Issue Date:
1990-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29898
Published in:
Southern Journal of Agricultural Economics, Volume 22, Number 1
Page range:
105-111
Total Pages:
7




 Record created 2017-04-01, last modified 2017-08-24

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