Farm Price Gyrations: An Aggregative Hypothesis

Cochrane, Willard W.

doi:10.2307/1232384

Cited by 8 publications

(9 citation statements)

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“…In January 1919 the two separate associations joined to create the American Farm Economic Association (Taylor 1922, p. 96). Roots:1910Roots: -1919 The AAEA began at a time that Cochrane (1993) termed "the golden age of U.S. agriculture."…”

Section: Precursors: There Was a Lot Going On Before The Association mentioning

confidence: 99%

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The AAEA: Ever Growing and Changing Research Challenges

McCalla

Castle

Eidman

2010

American J Agri Economics

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The changing economic conditions over the past century, along with changes in technology and developments in economic theory and quantitative methods, helped shape the profession we currently refer to as agricultural and applied economics. The broadening of the profession from the original focus on the farm and agricultural industry to encompass international affairs, governmental policies, resources, and environmental and rural affairs is discussed within this context. Emergence of the subdisciplines and some of the major individual contributions are noted. The final section argues that members of the profession are well positioned to continue contributing research that will help society achieve its goals, and notes six challenges that provide such opportunities.

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Section: Precursors: There Was a Lot Going On Before The Association mentioning

confidence: 99%

“…The story, so well told by Cochrane (1958), is of a diverse, dispersed industry made up of millions of small farmers who, given access to technology, are eager to innovate. They reason that they cannot influence price but can reduce costs, thereby increasing their profits.…”

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confidence: 99%

The AAEA: Ever Growing and Changing Research Challenges

McCalla

Castle

Eidman

2010

American J Agri Economics

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“…Research in developed countries has concluded that agricultural producers are price responsive, with price responsiveness varying by commodity and according to various lengths of run. Short-term agricultural supply response tends to be inelastic because of asset fixity, the biological production process required to change agricultural production levels, and fixed labour supplies (Cochran, 1947;Black, 1962;Galbraith and Black, 1968). Over the long-term, these constraints are less restrictive and supply response is less inelastic.…”

Section: Conceptual Considerationsmentioning

confidence: 99%

Herd Inventory and Slaughter Supply Response of Botswana Beef Cattle Producers

Ndzinge

Marsh

Greer

1984

J Agricultural Economics

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A statistical model composed of rational distributed lags was used to estimate cattle inventory and cattle slaughter in the livestock sector of the Republic of Botswana. The impact of range and biological conditions, government infrastructure, technology, and cattle prices were tested in the initial maintained hypotheses. Results revealed that a polynomial rational lag structure, or cyclical effect, characterised the behaviour of herd inventories specific to changes in cattle prices. Contemporaneous decisions to market slaughter cattle were affected by the long‐term cycle as well as the more direct influence of slaughter prices and range conditions within a one to two year period. The responsiveness of these sectors to changes in cattle prices is qualified within the biological and climatic constraints, and customs of the tribal and commercial cattle producing economies. It appears that the significance of the price‐elasticities stands in contrast to the findings of other studies.

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“…1. For fruits and vegetables, retail prices were about 3}~times the farm price in 1947-1949. By 1961-1963, quantities produced were up 9 percent, farm prices up 13 percent, retail prices up 30 percent, to 4.6 times the original farm price, and marketing margins up 37 percent.…”

Section: Commodity Groupsmentioning

confidence: 99%

Roles of Farm Productivity and Marketing Margins in Postwar Decline in Farm Prices

Freeman¹

1966

Journal of Farm Economics

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Cross-commodity data rather than time-series data were used to determine the incidence of increased marketing margins. Changes in the farm prices of the several food groups were found to be negatively associated with changes in output per man-hour, the best available indicator of changes in cost of production. On the other hand, changes in marketing margins were not meaningfully related to farm price changes. For the same food groups, the market-basket data on farm and retail prices, plus the USDA indices of changes in farm output, provided a framework for showing the extent of the shifts in retail demand, farm demand, and farm supply functions. The indicated shifts in the farm supply curves were generally consistent with the productivity effects previously noted.

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Farm Price Gyrations: An Aggregative Hypothesis

Cited by 8 publications

References 0 publications

The AAEA: Ever Growing and Changing Research Challenges

The AAEA: Ever Growing and Changing Research Challenges

Herd Inventory and Slaughter Supply Response of Botswana Beef Cattle Producers

Roles of Farm Productivity and Marketing Margins in Postwar Decline in Farm Prices

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