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On the Existence of Stable Equilibria in Agriculture

Published online by Cambridge University Press:  28 April 2015

Stephan J. Goetz
Stephan J. Goetz*
Affiliation:
University of Kentucky
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Abstract

Problems of instability and disequilibrium in U.S. agriculture are synthesized within a single conceptual framework. Agricultural and non-agricultural sector offer curves are used to illustrate why it may not be feasible to achieve and maintain equilibrium and price stability in U.S. agriculture. Empirical evidence on resource disequilibrium and instability in the ratio of prices paid and received by farmers is presented.

Keywords

instabilitydisequilibriumoffer curvesU.S. agriculturepolicy
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 25 , Issue 1 , July 1993 , pp. 208 - 216
Copyright
Copyright © Southern Agricultural Economics Association 1993

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