Analysis of a Small Open Economy: The Case of Energy Prices in Canada
分析能源价格上涨对加拿大农业的长期影响，发现土地租金下降、农场规模扩大、产出和农场数量减少，并提供了估算长期反应的简单公式。
Abstract The analysis suggests that land rental price decrease in the long run as a consequence of higher energy prices. Energy demand from agriculture decreases if land and energy are substitute inputs. The necessary and sufficient conditions for expecting increasing average farm size, decreasing agricultural output, and number of farms also have been provided. The analysis considers a competitive equilibrium environment with specific proviso that land prices adjust in response to higher domestic energy prices. Simple expressions for calculating long‐run agricultural responses to higher domestic energy prices were derived and used in estimating such responses for Canadian agriculture.