Dynamic adjustment in vertically linked markets: the case of the U.S. beef industry. From: American Journal of Agricultural Economics | Date: February 1, 1997| Author: Buhr, Brian L.; Kim, Hanho | COPYRIGHT 1997 American Agricultural Economics Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

This duality model is used to investigate the dynamic structure of vertically linked sectors of the U.S. beef industry. The model employed allows for explicit hypothesis tests of the adjustment process and technology change. Vertically related sectors of the beef industry are included to emulate the organizational structure of the industry. Results suggest that the cow-calf, feedlot, and beef processing sectors of the U.S. industry face significant adjustment costs. Another important finding ...

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