By V. Eldon Ball, George W. Norton (auth.), V. Elton Ball, George W. Norton (eds.)
Agricultural productiveness: dimension and resources of Growth addresses size concerns and methods in agricultural productiveness research, making use of these thoughts to lately released info units for American agriculture. the information units are used to estimate and clarify nation point productiveness and potency transformations, and to check diversified ways to productiveness dimension. the increase in agricultural productiveness is the one most crucial resource of financial progress within the U.S. farm area, and the speed of productiveness progress is expected to be larger in agriculture than within the non-farm area. you will need to comprehend productiveness resources and to degree its development adequately, together with the consequences of environmental externalities.
Both the equipment and the knowledge should be accessed through economists on the country point to behavior analyses for his or her personal states. In a feeling, even though now not explicitly, the ebook presents a consultant to utilizing the productiveness info to be had at the web site of the U.S. division of Agriculture/Economic learn provider. it may be of curiosity to a huge spectrum of pros in academia, the govt, and the non-public region.
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Additional info for Agricultural Productivity: Measurement and Sources of Growth
We adopt this approach and, to facilitate comparisons among the indices, we use the same (substantially) reduced data for every index at this stage. 6 But in the main analysis we use the entire data set to compute Fisher Ideal indices. S. agriculture were created by dividing each output quantity index by the corresponding input quantity index.? The Laspeyres index understated productivity growth because it overstated growth in inputs more seriously than outputs (and conversely the Paasche index overstated productivity growth).
The prices used as weights to form an aggregate output are state-specific prices received by farmers for all commodities, except machines for hire and greenhouse and nursery products. For these composite commodities a price index based on national prices for their sub-components was constructed, to be used to deflate reported current dollar values. A somewhat questionable, but standard, choice was to use the (policy-distorted) prices paid and received by farmers as the relevant prices for aggregating inputs and outputs.
Net additions to inventory during the calendar year are considered a component of output. 12. The nominal rate was taken to be the average yield on Moody's BAA bonds over all maturities. 13. Observed real rates are expressed as an AR( I) process. We use this specification after examining the correlation coefficients for auto correlation, and partial and inverse auto correlation, and after performing the unit root and white noise tests. We centered each time series by subtracting its sample mean.
Agricultural Productivity: Measurement and Sources of Growth by V. Eldon Ball, George W. Norton (auth.), V. Elton Ball, George W. Norton (eds.)