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Journal of Applied Econometrics

Выпуск N1 за 1970 год

Опубликовано на портале: 11-09-2003
Tim J. Coelli Journal of Applied Econometrics. 1970.  Vol. 11. No. 1 . P. 77-91. 
This study investigates productivity growth in broad-acre agriculture in Western Australia. Tornqvist indices of three output groups (crops, sheep products and other) and five input groups (livestock, materials and services, labour, capital and land) are constructed and discussed. Indices of total output and total inputs are also derived and used to form an index of total factor productivity, that is observed to grow at an average annual rage of 2.7%. The input and output indices are also used in the estimation of output supply and input demand equations, derived from a flexible profit function. The Generalized McFadden functional form is used, because it is possible to impose global curvature upon it without loss of flexibility. Asymptotic chi-square tests reject the hypotheses of Hicks-neutral technical change in inputs and in outputs. Technical change is observed to be `materials and services' saving relative to the other input groups, and also appears to favour wool and sheepmeat production relative to the other output groups.
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