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Estimating input use and production costs from farm survey panel data

Hallam, D., Bailey, A., Jones, P. and Errington, A. (1999) Estimating input use and production costs from farm survey panel data. Journal of Agricultural Economics, 50 (3). pp. 440-449. ISSN 0021-857X

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To link to this item DOI: 10.1111/j.1477-9552.1999.tb00892.x

Abstract/Summary

Econometric estimation of enterprise input use and production costs offers a less expensive alternative to special surveys. Estimates of input allocation are of use within programming models, for policy analysis and income forecasting. However, simple ordinary least squares estimation has been plagued by a number of problems and the results have been disappointing. This paper provides some empirical evidence on the extent to which these problems can be overcome, or at least mitigated, through exploitation of panel data sets and appropriate panel data estimation techniques. The results confirm that this approach provides some improvement in estimation results, but some practical and methodological problems remain.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Centre for Agricultural Strategy (CAS)
ID Code:77271
Publisher:Wiley-Blackwell

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