Estimating production response of broadacre farms in Western Australia: the nexus of empirics and economics revisited
MetadataShow full item record
Reliable estimates of elasticities are fundamental requirement to accurate economic forecasting and valid analyses of the impacts of changes in government policies or international events. The aim of this paper is thus, to estimate production response for broadacre farms in Western Australia by using a normalized quadratic profit function for the period 1977/78 to 2005/06. The result reflects the imposition of curvature restrictions for a normalized profit function, and estimated elasticities are found to be less elastic in the short run. The results from this exercise can be used in a number of ways, depending on the policy objective in mind, such as simulation for forecasting agricultural production.
Showing items related by title, author, creator and subject.
Sithole, Moses M. (1997)This thesis is mainly concerned with the estimation of parameters in autoregressive models with censored data. For convenience, attention is restricted to the first-order stationary autoregressive (AR(1)) model in which ...
Teunissen, Peter (2003)Abstract. In this invited contribution a brief review will be presented of the integer estimation theory as developed by the author over the last decade and which started with the introduction of the LAMBDA method in 1993. ...
Lo, Johnny Su Hau (2011)The determination of the zenith wet delay (ZWD) component can be a difficult task due to the dynamic nature of atmospheric water vapour. However, precise estimation of the ZWD is essential for high-precision Global ...