@article{Fohlin:138831,
      recid = {138831},
      author = {Fohlin, Caroline and Robinson, Sherman and Schluter,  Gerald E.},
      title = {Terms of Trade and Factor Commitments in Agriculture},
      journal = {Journal of Agricultural Economics Research},
      address = {1989},
      number = {1491-2016-130205},
      pages = {6},
      year = {1989},
      abstract = {US agricultural economic growth in this century has been  characterized by a slow rise in the demand for food and  faster growth in farm output as against nonfarm  productivity. In such an environment, one expects the size  of the farm sector to decline as a share of the rest of the  economy. What is not so clear is the effectiveness of the  price system in signaling the appropriate resource  adjustments or of the resource market in responding to  available signals. We examine four terms-of-trade measures  conceptually and, since 1929, empirically. We find that  even distortions from farm programs have not offset the  long-term trend of declining terms of trade. Labor and  capital markets respond, albeit imperfectly and slowly.},
      url = {http://ageconsearch.umn.edu/record/138831},
      doi = {https://doi.org/10.22004/ag.econ.138831},
}