The usefulness of movement in costs and prices (sometimes termed the "cost-price squeeze") has been challenged by a number of authors. Despite this, a theme which remains common to some recent articles is that a decline in the ratio of prices received to prices paid denotes a situation which...

Random variation in output may lead to serious bias in cost function estimates. Despite the availability of simple, consistent instrumental variable estimators to deal with this problem, most empirical studies appear to have ignored this errors-in-variables problem, or dealt with it in an ad hoc...

Applied economists have devoted significant resources to the econometric estimation of demand and price parameters of markets for agricultural products. This paper provides a review of research in this area for the Australian domestic market. Identified publications are classified on the basis...

This paper uses a simulation model to measure the size of the social welfare gains from price stabilisation within the general setting of a non-linear, multiplicative risk and lagged expectations model of the market. The size of the gains is found to be relatively small when producers plan on...

This paper reports on estimates of the supply response to price changes of Australian broadacre farmers using a programming model. The products examined were beef, sheep meat, wool and cereals. Medium-term own-price and cross-price elasticities were estimated from a designed experiment with the...

A method of determining mutually applicable supply functions, using the simplex method of linear programming, for products required in some kind of fixed proportion is outlined. The technique involves estimating the horizontal segments of a step supply function, i.e. the marginal cost function,...

A discrete stochastic programming model of the farming system of the eastern wheatbelt of Western Australia is used to examine the effect of tactical responses and risk aversion on wheat supply. Including within-season tactical changes to wheat areas decreases the own-price elasticity of supply....

The purpose of this paper is to evaluate the influence of alternate price determination specifications on the ability of a structural econometric model of the Australian prime lamb industry to accurately forecast saleyard lamb prices. Five variations of this model were specified according to the...

The importance of welfare losses resulting from discrepancies between Australian Wool Corporation and trade valuations of different grades of wool is discussed. Cross-sectional data are used to relate variations in wool attributes to variations in price during 1976-7 and a model is derived for...