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FACTOR MARKET INCIDENCE OF AGRICULTURAL TRADE LIBERALIZATION: SOME ADDITIONAL RESULTS
Author(s) -
Hertel Thomas W.
Publication year - 1991
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1991.tb00707.x
Subject(s) - agriculture , liberalization , economics , free trade , production (economics) , agricultural economics , asset (computer security) , agricultural productivity , international economics , substitution (logic) , factors of production , monetary economics , macroeconomics , market economy , geography , computer security , computer science , programming language , archaeology
Liberalization of trade implies changes in producer prices, which has consequences for farm income, agricultural employment and asset values. The relative incidence of the effect of changes in prices on fixed factors depends on the rclative magnitude of the Morishima elasticities of substitution in agricultural production.