@article{Agbola:118436,
      recid = {118436},
      author = {Agbola, Frank W. and Harrison, Stephen R.},
      title = {Empirical investigation of investment behaviour in  Australia's pastoral region},
      journal = {Australian Journal of Agricultural and Resource Economics},
      address = {2005},
      number = {428-2016-27506},
      pages = {16},
      year = {2005},
      abstract = {Optimal intertemporal investment behaviour ofAustralian  pastoralists is modelled using
panel data for the period  1979–1993.Results indicate that quasi-fixity of inputs of  labour,
capital, sheep numbers and cattle numbers is  characteristic of production in the pastoral
region. It  takes about two years for labour, four years for capital  and a little over two years
for both sheep numbers and  cattle numbers to adjust towards long-run optimal  levels.
Results also indicate that, after accounting for  adjustment costs, own-price product
supply and input demand  responses are inelastic in both the short and long run.},
      url = {http://ageconsearch.umn.edu/record/118436},
      doi = {https://doi.org/10.22004/ag.econ.118436},
}