Time : Oct. 22, 2013 14:00-15:30 pm
Location: National School of Development / China Center for Economic Research 512
Chair: Miaojie Yu
Speaker: Yu Sheng ( Australian Bureau of Agricultural and Resource Economics Science )
Topic : Elasticity of Substitution and Farm Heterogeneity in TFP and Size: A Theoretical Framework and Empirical Application to Australian Broadacre Farms
Abstract : This paper develops a theoretical model to examine the relationship between the input elasticity of (technical) substitution and both farm total factor productivity and size. In the presence of ongoing technical change and its factor bias, the 'income effect' arising from farms 'cost minimizing behavior enables them to increase productivity by saving inputs or, through the dual equivalent, enlarging farm size. As such, farms with higher elasticities of substitution tend to grow larger and become more productive, which provides a new mechanism through which farm heterogeneity in productivity growth can be examined. Empirical evidence from Australian broad acre agriculture supports this theory and points to important policy implications.
Speaker Introduction : Dr. reputation , Australia Bureau of Agricultural and Resource Economics Senior Economist science . 2002 Ph.D. in Economics, Australian National University . His research interests include international trade, energy economics and labor economics . Served as an independent consultant for the Asian Development Bank , and as a visiting scholar visited including the World Bank , the International Food product research and development and the OECD and other international think tank . Currently, Dr. reputation in many scholarly articles , including Canadian Journal of Economics, Review of International Economics, China Economic Review magazine published .