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A MODEL OF THE NEW ZEALAND SHEEP INDUSTRY*

A MODEL OF THE NEW ZEALAND SHEEP INDUSTRY* The paper presents a model of the New Zealand Sheep Industry which predicts animal numbers in various sex/age categories. The explanatory variables used are the prices of the end products of the industry and time, to represent technological change. Prices are found to have a significant, though delayed, effect on farmers' stock decisions. Furthermore, the significance of time demonstrates improvements in some forms of animal husbandry. The relative failure of the model's latest predictions emphasizes the importance of irrational optimism in the industry. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

A MODEL OF THE NEW ZEALAND SHEEP INDUSTRY*

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Publisher
Wiley
Copyright
Copyright © 1968 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1968.tb00562.x
Publisher site
See Article on Publisher Site

Abstract

The paper presents a model of the New Zealand Sheep Industry which predicts animal numbers in various sex/age categories. The explanatory variables used are the prices of the end products of the industry and time, to represent technological change. Prices are found to have a significant, though delayed, effect on farmers' stock decisions. Furthermore, the significance of time demonstrates improvements in some forms of animal husbandry. The relative failure of the model's latest predictions emphasizes the importance of irrational optimism in the industry.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Jun 1, 1968

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