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Capacity utilization and measurement of agricultural productivity


, : Capacity utilization and measurement of agricultural productivity. Technical Bulletin United States Department of Agriculture ( 1798): iii + 32pp.

The failure to consider variations in capacity utilization can distort productivity measurement for the US farm sector. This report develops a theoretical model of capacity utilization and productivity measurement, which is estimated by full information maximum likelihood (FIML) techniques over the period 1949-98. An analysis of shadow prices for capital and self-employed labour indicated that a capital shortage prevailed in farming for most of 1949-80.

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