Journal
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
Volume 93, Issue 4, Pages 936-948Publisher
WILEY
DOI: 10.1093/ajae/aar029
Keywords
calibration; positive mathematical programming; regional supply; supply response
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This article provides a methodology to exactly calibrate land-constrained programming models of agricultural supply against supply elasticities using generalized constant-elasticity-of-substitution, crop-specific production functions. We formally derive the necessary and sufficient conditions under which the model can replicate a reference allocation while displaying crop supply responses consistent with exogenous information on supply elasticities. When it exists, the solution to the exact calibration problem is unique. Subject to a caveat, the proposed specification is shown to be more flexible with respect to calibration than the quadratic specification that has been used extensively in policy models based on positive mathematical programming.
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