Supply response and dynamic factor demand of Dutch dairy farms
基于调整成本假说，利用荷兰奶牛场面板数据估计了要素需求动态方程系统，发现投资对价格和技术变化敏感，但产出和可变投入的价格弹性即使在长期也很小。
A dynamic equation system of factor demand, based on the adjustment cost hypothesis, is estimated using an incomplete panel of Dutch dairy farms. An instrumental variable estimator is used, based on first differences of the variables. The theoretical framework fits the data well. Investments are sensitive to price changes and technical change. Partly as a result of this, the influence of technical change on the demand for the variable input, the output supply and the demand for capital is important. However, the price elasticities of the output and the variable input are small, even in the long-run. Copyright 1994 by Oxford University Press.