Aggregate agricultural supply response in Chile, 1962-82

Juan Eduardo Coeymans, Yair Mundlak

Research output: Contribution to journalArticlepeer-review

Abstract

Supply response in agriculture is evaluated using a multisector model of the Chilean economy which was estimated econometrically using data for the period 1962-1982. The economy is disaggregated into agriculture, mining, manufacturing, services and government. The main groups of variables included in the simulation are factor markets, technology, intermediate inputs and prices. It is shown that output responds to price change and that the strength of the response increases with time. The supply elasticity for agriculture is evaluated conditional on total resources and constant price level in order to highlight the substitution effect, which has been questioned. The elasticity converges to unity in a 10 year period. The main features of the model and how it operates are described, and policy implications are drawn.

Original languageEnglish
Pages (from-to)17-22
Number of pages6
JournalFood Policy
Volume16
Issue number1
DOIs
Publication statusPublished - 1991

ASJC Scopus subject areas

  • Food Science
  • Economics and Econometrics
  • Development
  • Sociology and Political Science
  • Management, Monitoring, Policy and Law

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