Adjusting Farm Tractor Prices for Quality Changes, 1950-1962

Lyle P. Fettig

38 citations0/0 files storedJournal of Farm Economics

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Agricultural economics and policies Economics of Agriculture and Food Markets Efficiency Analysis Using DEA

Abstract

SEPARATION of time series on expenditures into price and quantity components is the basic index number problem. The aspiration to hold in constructing price indexes arises from the objective of accurate measurement of real input, output, and prices at some aggregate level through time. This paper reports an attempt to generate price indexes for new farm tractors that take explicit account of available information on changes in these tractors over the postwar period. The ideal of constant quality is of course not achieved, but rather serves as a conceptual target for the analysis. Causes of price changes are not sought; nor is normative evaluation of price changes attempted.

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1985INDUCED INNOVATION IN UNITED STATES FIELD CROPS, 1939‐78 2018Effects of tractor ownership on returns-to-scale in agriculture: Evidence from maize in Ghana 2004Estimating Farm Equipment Depreciation: Which Functional Form Is Best?1971MEASUREMENT BIAS IN PRICE INDEXES FOR CAPITAL GOODS*1989Is Farming a Constant Cost Industry?

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