Assessing the impacts of stochastic trend in crop acreage supply response model

This paper demonstrates the need to revisit the way a technical change has been incorporated in a crop acreage supply response model. Three different versions of technological change were introduced and compared: no trend, deterministic trend, and stochastic trend. The results confirm the need to treat a technology variable as a stochastic trend for better results in crop acreage supply response model specifications.

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Year of publication:	2008
Authors:	Adhikari, Murali ; Paudel, Krishna ; Houston, Jack ; Bukenya, James
Published in:	Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 40.2008, 3, p. 295-302
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005511445