This is a preliminary research report prepared and submitted to a journal. The research is basically about the dynamic relationship among aggregate supply, terms of trade and technological variables. I hope, you guys go through the document and give me feedback and suggestions. Thank you
ABSTRACT
Assessing the effect of agricultural terms of trade and technological variable on the aggregate production is the main focus of the paper. Vector Error Correction Model (VECM) is used to analyze the long-run as well as short-run impact. The result shows that the effect of price and technological factor in the short-run at different lag periods is not definite. However, the effect of technological variable has a positive long-run effect on production. Price related variable like terms of trade has no significant direct impact on the aggregate production but short-run dynamics shows that the effect of price factor transmits through technological variable.
http://www.docstoc.com/docs/26174234/Does-Agricultural-Terms-of-Trade-Affect-Aggregate-Supply
Assessing the effect of agricultural terms of trade and technological variable on the aggregate production is the main focus of the paper. Vector Error Correction Model (VECM) is used to analyze the long-run as well as short-run impact. The result shows that the effect of price and technological factor in the short-run at different lag periods is not definite. However, the effect of technological variable has a positive long-run effect on production. Price related variable like terms of trade has no significant direct impact on the aggregate production but short-run dynamics shows that the effect of price factor transmits through technological variable.
http://www.docstoc.com/docs/26174234/Does-Agricultural-Terms-of-Trade-Affect-Aggregate-Supply
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