Supply Response and Investment in the Canadian Food Processing Industry
估计了加拿大食品制造业的动态模型，分析投资决定因素和生产结构，发现资本调整需约两年多时间，且该行业在短期、中期乃至长期对价格变化的反应缺乏弹性。
Abstract This paper reports on the estimation of a dynamic model of the food manufacturing industry in Canada. Its major objectives are to analyze the determinants of investments and the production structure of the industry. An important finding of the study is that the hypothesis of instantaneous capital adjustment to changing market conditions is statistically rejected. Capital stock adjustment to optimal levels takes approximately two and one‐third years. Another result is that although the industry is responsive to price changes, a general pattern of inelastic factor demand and output supply prevails in the short run, intermediate run, and even in the long run.