Testing Asset Fixity for U.S. Agriculture
基于油灰黏土技术假设，利用成本函数统计检验美国农业资产固定性，发现所有固定性形式均被拒绝，并探讨了投入替代与技术变革对农业投资的影响。
Abstract The asset fixity hypothesis is formulated in terms of a putty‐clay technology. Statistical tests for asset fixity based on an estimated cost function are performed. All forms of fixity considered are rejected statistically. Estimated cost function parameters are used to investigate substitution and technical change in U.S. agriculture. Inputs are generally substitutes and technical change is cost reducing. Implications for the investigation of agricultural investment are discussed.