This paper considers the specification of a production function, using crop-yield response to agricultural lime as an example. The paper first reviews neoclassical production theory, observing that this theory specifies neither the form nor the arguments of a production function. Several...

This paper develops a model of the U.S. sheep industry with monthly data for 1964-1980. Consumption of lamb has decreased rapidly since 1970. Findings suggest that consumers are highly sensitive to changes in lamb prices relative to prices for beef and pork.

Between 2006 and 2009, the OECD undertook a series of reviews of national rural development policy. The reviews largely followed a consistent approach and used the OECD’s New Rural Paradigm (NRP) as a common metric for assessing various national approaches. Although the reviews cannot be...