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A dynamic analysis of the size distribution of firms: The case of the US dairy industry

✍ Scribed by Jean-Paul Chavas; Gilbert Magand

Publisher: John Wiley and Sons
Year: 1988
Tongue: English
Weight: 832 KB
Volume: 4
Category: Article
ISSN: 0742-4477
DOI: 10.1002/1520-6297(198807)4:4<315::aid-agr2720040403>3.0.co;2-2

No coin nor oath required. For personal study only.

✦ Synopsis

This article develops a time-varying Markov process of the aggregate size distribution of firms in an industry. This is used to specify and estimate an econometric model of the regional evolution of the number and size of US dairy farms. The empirical results provide evidence concerning the effects of milk price and feed cost on the structure of dairy production in selected regions.

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