Agricultural Productivity and Producer Behavior

"Agriculture plays a key role in economic growth and development. As recently as 1800, more than half the population in most European countries worked on farms and in fields, though this shifted with the industrial revolution. Agricultural efficiencies were not immediately apparent until the middle of the 20th century when yields began to increase and they have continued to grow at a steady pace since. At the same time, inflation-adjusted agricultural commodity prices have been trending downward as increases in supply outpaced increases in demand. Food is an essential good, and while its price is currently low due to its abundance, it is responsible for a large consumer surplus given the highly inelastic demand. Understanding the factors that contribute to the upward trend in yields is of first-order importance for food security and human welfare. This book contains eight chapters that examine the factors behind the remarkably steady increase in yields around the globe, in order to better understand whether this trend can continue into the future and whether it will impose significant environmental externalities. The volume provides fresh and original analyses using methodological innovations to analyze recently available micro-level data sets"--

About the author

Wolfram Schlenker is a professor at the School of International and Public Affairs and the Earth Institute at Columbia University and a research associate of the NBER.

Product details

• Authors: Wolfram Behaviorr, Wolfram Schlenker
• Assisted by: Wolfram Schlenker (Editor), Schlenker Wolfram (Editor)
• Publisher: University Of Chicago Press
• Languages: English
• Product format: Hardback
• Released: 30.11.2019
• EAN: 9780226619804
• ISBN: 978-0-226-61980-4
• No. of pages: 432
• Series: National Bureau of Economic Research Conference Report; National Bureau of Economic Re; (NBER) National Bureau of Economic Research Conference Reports (CHUP); (NBER) National Bureau of Economic Research Conference Reports
• Subjects: Social sciences, law, business > Business > Individual industrial sectors, branches; Economics, BUSINESS & ECONOMICS / Economics / General, Agribusiness and primary industries, Primary industries