The Effects of Tax Policy on Investment in Agriculture
The Review of Economics and Statistics
1991
The effects of tax policy on agricultural investment are investigated by estimating a dynamic interrelated input demand system. Net investment is specified to give rise to increasing internal costs of adjustment, resulting in capital inputs being quasi-fixed. The system of demand equations is derived by incorporating a quadratic normalized restricted cost function into a long-run dynamic optimization framework. Copyright 1991 by MIT Press.
- DOI
- 10.2307/2109563
- Volume
- 73 (3)
- Pages
- 393
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