A TEST OF ASSET FIXITY IN SOUTHEASTERN U.S. AGRICULTURE

A test for static equilibrium developed by Schankerman and Nadiri is used to evaluate the hypothesis that land and capital in aggregate southeastern U.S. agriculture behave as fixed inputs. Empirical results reject the hypothesis that these two inputs are at their long-run equilibrium levels implied by observed prices. Thus, some degree of asset fixity may be concluded.Financial Economics,

COMPETITIVE PRESSURE AND PRODUCTIVITY GROWTH: THE CASE OF THE FLORIDA VEGETABLE INDUSTRY

The relationship between the degree of competitive market pressure and the rate of productivity growth is empirically investigated with a case study of the Florida fresh winter vegetable industry. The results indicate that crops which faced considerable competitive pressure exhibited significant productivity growth while the crops that faced minimal competitive pressure generally exhibited little growth in productivity. Thus, the hypothesis that competitive pressure is positively related to productivity growth is supported.Productivity Analysis,

A comparison of the efficiency of producers under collective and individual modes of organisation

This paper compares collective and individuals production systems' technical and allocative efficiency. The producers being studied belong to Honduran agrarian reform cooperatives engaging in colective and/or individual maize production. Debreu-Farrell technical efficiency related to stochastic production is calculated. Allocative efficiency is obtained from an analytically derived cost frontier. Results indicate that collective systems are slightly more efficient than individual production systems. Worker-shirking (one of the most cited theoretical arguments against colective form of enterprise) would seem to have no empirical basis from these results.cooperative

TRADE LIBERALIZATION AND JAPANESE AGRICULTURAL IMPORT POLICIES

This analysis empirically evaluates a subset of Japanese agricultural policies during the 1970s and 1980s using the Trade Restrictiveness Index recently developed by Anderson and Neary. This index, though theoretically rigorous, is empirically demanding, resulting in relatively few applications. Inferences obtained from the index are in general accordance with policy changes and economic events over the period of analysis. Using 1970 as the base, the estimated TRI suggests that policy changes during 1970-87 resulted in moderately liberalized trade. Comparison with a conventional measure of trade distortion- producer and consumer subsidy equivalents (PSEs and CSEs)- reveals contrasting inference. This suggests the choice of empirical measures in evaluating trade policies in nontrivial.International Relations/Trade,

AN ANALYSIS OF MARKET STRUCTURE AND PRICING IN THE FLORIDA CELERY INDUSTRY

The pricing behavior of the Florida celery industry under the current federal marketing order was examined by analyzing the implied market structure of the industry using a model proposed by Appelbaum. Point estimates of the oligopoly power index suggest that some degree of price enhancement above that which would be characterized by a perfectly competitive market may have occurred. However, the bulk of statistical evidence suggests that the departure from marginal cost pricing implied by the industry's pricing behavior is not statistically significant.Demand and Price Analysis,

Dynamic Factor Demands for Aggregate Southeastern United States Agriculture

A four equation input demand system for aggregate Southeastern United States agriculture consistent with dynamic optimizing behavior is specified and estimated. Labor and materials are considered as variable inputs while land and capital are treated as quasi-fixed inputs. It is found that the adjustment rates for capital and land differ considerably and are interdependent. Further, the data appear consistent with the existence of an aggregate production technology and the hypothesized optimizing behavior.Farm Management,

Fishing Power Functions in Aggregate Bioeconomic Models

A method for estimating fishing power in the Beverton-Holt tradition in the absence of firm-level data is developed. This enables the construction of a standardized measure of fishing effort that can facilitate the analysis and implementation of various management alternatives. The methodology is applied to the Gulf of Mexico Reef Fish Fishery.Environmental Economics and Policy, Research Methods/ Statistical Methods, Resource /Energy Economics and Policy, Risk and Uncertainty,

INCORPORATING STOCHASTIC HARVESTS INTO AN ANALYSIS OF PRODUCTION: THE U.S. ATLANTIC AND GULF OF MEXICO PELAGIC LONGLINE FLEET

Vessel operators maximize expected utility indirectly through cost-minimizing production decisions subject to stochastic harvests. Data on the Atlantic longline fleet, available from NMFS logbooks, is used for the empirical analysis. An ex ante multi-input cost function that incorporates expected rather than realized output levels is estimated and results are reported.Resource /Energy Economics and Policy,

PREFERENTIAL TRADING ARRANGEMENTS IN THE WESTERN HEMISPHERE

The first half of this decade has witnessed an explosion in the creation and rejuvenation of preferential trading arrangements. Indeed, since 1990, 33 regional agreements have been notified to the GATT. An understanding of the basic structure of these agreements within the Western Hemisphere is critical to the ex ante assessment of the potential impacts of a Western Hemisphere Free Trade Agreement (WHFTA) on individual countries and groups, as well as specific sectors such as agriculture and food processing.International Relations/Trade,

POLICY HARMONIZATION, CONVERGENCE, AND COMPATIBILITY ISSUES IN NORTH AMERICAN HORTICULTURE

Agricultural and Food Policy,