Hoffmann, Ruben
- Institutionen för ekonomi, Sveriges lantbruksuniversitet
Sammanfattning
This article addresses the issues of investment/disinvestment asymmetry and a possible existence of a sluggish regime in the demand for a quasi-fixed input in the U.S. hog production sector. Adopting a new threshold estimation procedure, quarterly data from 1970 through 2002 are used to estimate a regime-dependent investment demand equation for a quasi-fixed input, taking sows as a proxy. The results support the existence of three regimes over alternative specifications precluding the sluggish regime, confirming the existence of asset fixity in hog production. The results also highlight the importance of accounting for investment rigidity when estimating hog supply and variable input demands.
Nyckelord
asset fixity; inaction regime; investment asymmetry; threshold model
Publicerad i
American Journal of Agricultural Economics
2007, volym: 89, nummer: 1, sidor: 36-51
Utgivare: BLACKWELL PUBLISHING
SLU författare
UKÄ forskningsämne
Jordbruksvetenskap
Samhällsvetenskap
Ekonomi och näringsliv
Publikationens identifierare
- DOI: https://doi.org/10.1111/j.1467-8276.2007.00961.x
Permanent länk till denna sida (URI)
https://res.slu.se/id/publ/9951