Timothy G. Taylor

Alternative stochastic specifications of the frontier production function in the analysis of agricultural credit programs and technical efficiency

Abstract The effect of subsidized credit on the technical efficiency of traditional farmers in Southeastern Brazil is analyzed under two alternative stochastic specifications for the production frontier. It is found that the choice of stochastic specification significantly influences inferences regarding the effect of subsidized credit on measured technical efficiency.

Agricultural Credit Programs and Production Efficiency: An Analysis of Traditional Farming in Southeastern Minas Gerais, Brazil

Over the past two decades the effectiveness of subsidized credit programs in improving the productivity of traditional farmers in developing countries has been extensively debated. This study analyzes the effects of one such program—PRODEMATA—on the technical and allocative efficiency of traditional farmers in Minas Gerais, Brazil. The empirical results suggest that PRODEMATA has had no effect on technical efficiency and a slightly negative effect on allocative efficiency.

Dynamic Factor Demands for Aggregate Southeastern United States Agriculture

A four equation input demand system for aggregate Southeastern United States agriculture consistent with dynamic optimizing behavior is specified and estimated. Labor and materials are considered as variable inputs while land and capital are treated as quasi-fixed inputs. It is found that the adjustment rates for capital and land differ considerably and are interdependent. Further, the data appear consistent with the existence of an aggregate production technology and the hypothesized optimizing behavior.

History, regionalism, and CARICOM trade: A gravity model analysis

Abstract A gravity model is fitted to 17 annual cross sections, 1980–1996, of bilateral trade data (imports and exports) between CARICOM member states and selected trading partners. Specifically, the paper investigates the effects of regional integration, colonial legacies and linguistic ties on CARICOM bilateral trade flows between member states and between member states and North American and European Union countries. The empirical results indicate that history and regionalism have had significant and strong effects on CARICOM trade. Additionally, two traditional explanatory variables in gravity models, income per capita and population, have significant and positive effects on CARICOM trade while the distance between trading partners exerts the expected negative effect.

Food Processor Price Behavior: Firm-Level Evidence of Sticky Prices

Firms in imperfectly competitive markets face direct and indirect costs when changing product prices. The latter costs reflect uncertain changes in revenue and market share resulting from the actions of rival firms. Rosetts friction model is applied to firm-level data to provide estimates of the indirect costs of changing prices for a major processor of frozen concentrated orange juice. Results indicate that indirect costs cause significant price rigidity. Additionally the hypothesis that prices are equally rigid for upward and downward changes could not be rejected.

Fishing Power Functions in Aggregate Bioeconomic Models

A method for estimating fishing power in the Beverton-Holt tradition in the absence of firm-level data is developed. This enables the construction of a standardized measure of fishing effort that can facilitate the analysis and implementation of various management alternatives. The methodology is applied to the Gulf of Mexico Reef Fish Fishery.

Monte Carlo and bootstrap testing of demand homogeneity

Abstract To test for homogeneity of demand, a Monte Carlo test is formulated and it is extended to a bootstrap version.

A Monte Carlo test of Slutsky symmetry

Abstract This paper demonstrates how Barnards (1963) Monte Carlo test procedure can be applied to Slutsky symmetry in demand systems.

An Analysis Of Market Structure And Pricing In The Florida Celery Industry

The pricing behavior of the Florida celery industry under the current federal marketing order was examined by analyzing the implied market structure of the industry using a model proposed by Appelbaum. Point estimates of the oligopoly power index suggest that some degree of price enhancement above that which would be characterized by a perfectly competitive market may have occurred. However, the bulk of statistical evidence suggests that the departure from marginal cost pricing implied by the industrys pricing behavior is not statistically significant.

PRODUCTIVITY GROWTH IN THE FLORIDA FRESH WINTER VEGETABLE INDUSTRY

Results indicate that productivity growth has been a prime factor in Floridas ability to retain a competitive position in the United States domestic fresh winter vegetable market. Total factor productivity indexes and productivity growth rates are estimated for the production of four major vegetable crops in one or more of four production areas in Florida. Florida producers have exhibited substantial productivity growth over the 1969-70 to 1981-82 period.