Arnade, Carlos Anthony; Gopinath, Munisamy - In: Journal of Agricultural and Resource Economics 23 (1998) 01
: agriculture, food, manufacturing, and services. A multioutput adjustment cost model is specified to compute the rates of capital …, which are then fitted to time-series data. Our estimates show that capital in agriculture and manufacturing is almost fixed … and adjusts toward respective long-run equilibrium at a rate of about 2% per year. The food processing and services …