Empirical investigation of investment behaviour in Australia's pastoral region | NOVA. The University of Newcastle's Digital Repository

Home

Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.13/26298

Title: Empirical investigation of investment behaviour in Australia's pastoral region
Author/Creator: Agbola, Frank W.; Harrison, Stephen R.
Description: Optimal intertemporal investment behaviour of Australian 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.
Relation: Australian Journal of Agricultural and Resource Economics Vol. 49, Issue 1, p. 47-62
Publisher Link: http://dx.doi.org/10.1111/j.1467-8489.2005.00277.x
Date: 2005
Publisher: Australian Agricultural and Resource Economics Society Inc. - Blackwell Publishing Ltd
Keyword(s): adjustment costs; pastoralism; supply response
Resource Type: journal article
Identifier: http://hdl.handle.net/1959.13/26298
Identifier: ISSN:1467-8489

17 Visitors

23 Hits

NOVA. The University of Newcastle's Digital Repository