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Towards an analytical base for studying farm adjustment problems - a recursive stochastic model of the farm-firm

Towards an analytical base for studying farm adjustment problems - a recursive stochastic model of the farm-firm

Quarterly Review of Agricultural Economics 30(2): 91-116

Given the present economic situation of worsening terms of trade in the Australian agricultural sector, identifying those factors which enhance productivity and facilitate farm adjustment becomes an important area for research. The Australian Bureau of Agricultural Economics currently has under way a research programme orientated towards the farm adjustment process.

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