Agricultural policy has traditionally been concerned with the maintenance and stability of farm income, and the provision of a stable food supply at low relative prices. The U.S. Food Security Act of 1985 was the first farm legislation to directly tie farm income and environmental concerns...

Abstract Currently Unavailable.

Changes in real interest rates may affect the rate of adjustment of machinery to optimal levels This finding results from the development and application of a theoretically consistent analytical framework for examining agricultural investment 10 machinery Results from duality theory on...

Two approaches, a flexible accelerator model and a stochastic coefficients alternative, are used to estimate the structure of aggregate agricultural investment. Structural estimates of the adjustment rates for each model are similar. The stochastic coefficients model, however, performs better in...