Table 2: Parameter Estimates
|
Variable |
Value |
Standard |
|
1997 |
0.6508 |
0.0457*** |
|
1998 |
0.7022 |
0.0455*** |
|
1999 |
0.6385 |
0.0452*** |
|
2000 |
0.3020 |
0.0453*** |
|
ln Capital Price |
0.3906 |
0.0024*** |
|
ln Labor Price |
0.1652 |
0.0043*** |
|
ln Energy Price |
0.0443 |
0.0029*** |
|
ln Materials Price |
0.3999 |
0.0026*** |
|
ln Output |
1.2021 |
0.0024*** |
|
ln Acres |
-0.8756 |
0.1374*** |
|
ln Acres squared |
0.0500 |
0.0105*** |
|
σ |
0.4274_______ |
________0.3228* |
Notes: The first four variables are year dummies.
Standard errors adjusted for county clustering and
and heteroskedasticity.
***Significantly greater than zero at 1-percent level.
*Significantly greater than zero at 10-percent level.
27
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