@article{Yang:170609,
      recid = {170609},
      author = {Yang, Sansi and Shumway, C. Richard},
      title = {Dynamic Adjustment in U.S. Agriculture under Climate  Uncertainty},
      address = {2014},
      number = {329-2016-12854},
      pages = {27},
      year = {2014},
      abstract = {We construct a stochastic dual model to investigate the  structural adjustment of three aggregate input and two  aggregate output categories in U.S. agriculture under  climatic change uncertainty. A century of national annual  data (1910-2011) is used in the empirical analysis.  Independent and instantaneous adjustment is rejected for  each output and input, but strict fixity cannot be rejected  for livestock and capital. It takes about four years for  crops, and three years for fertilizer to adjust towards  their optimal levels. Labor adjustment reaches the  equilibrium within one year.},
      url = {http://ageconsearch.umn.edu/record/170609},
      doi = {https://doi.org/10.22004/ag.econ.170609},
}