Agribusiness & Applied Economics

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Research from the Department of Agribusiness & Applied Economics. The department website may be found at https://www.ag.ndsu.edu/agecon

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Browsing Agribusiness & Applied Economics by Subject "Agriculture -- Economic aspects -- United States."

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    Contribution of Public Investments and Innovations to Total Factor Productivity
    (North Dakota State University, 2011) Glazyrina, Anna
    This study examines the importance of public research and development (R&D) expenditures and innovations (prices) to U S agricultural productivity employing panel vector error correction econometric technique Specifically, time-series and panel unit root tests, panel cointegration procedures, panel causality tests, and vector error correction model are used in the analysis. Empirical application to U S state-level data for 1960-2004 suggests positive and statistically significant influence of both supply-side drivers, in the form of public R&D expenditures, and demand-side drivers, in the form of innovations (prices), on total factor productivity growth.
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    How U.S. Agriculture Adjusts to Energy Price Changes
    (North Dakota State University, 2007) Gong, Jian
    The primary objective of this research is to measure the impacts of rising energy prices on U.S. agriculture and to analyze the capability of U.S. agricultural producers to adjust for energy price volatility. This study compares four different models of producer adjustment: the static model, the simple error correction model, the partial adjustment model, and the fully dynamic model. The first three models are nested within the fully dynamic model using ]948-2002 U.S. agriculture data. Morishima elasticities of substitution and price elasticities are estimated to investigate whether U.S. agriculture's responses to energy prices have changed over time. The elasticity estimates indicate that there are substitutions among production factors in U.S. agricultural production, and the substitution elasticities have increased over the 1948-2002 period. This finding suggests an increasing possibility for farmers to substitute other production inputs for energy to mitigate the effects of changing energy prices.