Journal of Agricultural Economics & Development
Iranian Agricultural Economics Society (IAES)

Estimation of Iran's Agricultural Aggregate Demand and Supply: 1959-2007

Document Type : Research Article

Authors

S.S. Hosseini
H. Shahbazi

Agricultural Economics Department, College of Agriculture and Natural Resources, University of Tehran

https://doi.org/10.22067/jead2.v0i0.24248
Abstract
Estimation of agricultural sector demand and supply and identification of its determinants could lead to more efficient policies and planning of this section. In this study, aggregate demand and supply of agriculture sector for years of 1959-2007 by using of nonlinear restricted ARMAX model are estimated. Result indicates that aggregate agriculture demand is inelastic in short and long run. Those elasticities are -0.118 and -0.162, respectively. Demand own price adjustment coefficient is about 0.273. Also, supply short and long run own price elasticities are 0.129 and 0.166, respectively. Its adjustment coefficient is 0.225. These results accentuate to Agricultural Product necessity nature.

Keywords

Supply
Demand
Agriculture sector
Nonlinear Restricted ARMAX model
Iran
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  • Receive Date 28 July 2013
  • First Publish Date 28 July 2013

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