IDEAS home Printed from https://ideas.repec.org/a/ags/uersja/136715.html
   My bibliography  Save this article

U.S. Grain Exports and the Value of the Dollar

Author

Listed:
  • Haley, Stephen L.
  • Krissoff, Barry

Abstract

This article exammes the changes in grain exports from 1973 to 1985 A stmpltfied three-country trade model is introduced as a framework for analyzing U S gram trade, world gram trade, and market price when changes in two real effective exchange rates occur an exchange rate based on US trade with grain importers and an exchange rate based on global trade of grain competitors Although collitnearty in the data series makes implementatton of the theoretical model difficult, evidence suggests that the cumulative effect of a 1-percent depreciation (appreciation) in the value of the dollar was to expand (contract) U S wheat exports in the range of 2 3 percent and to expand feed grain exports in the range of 14 percent Wheat exports have adjusted to real exchange rate changes only over a long period of 10 -12 quarters Feed grain exports have been quicker to adjust to real exchange rate changes, but there are itgnificant lagged effects

Suggested Citation

  • Haley, Stephen L. & Krissoff, Barry, 1987. "U.S. Grain Exports and the Value of the Dollar," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 39(2), pages 1-10.
    • Handle: RePEc:ags:uersja:136715
    DOI: 10.22004/ag.econ.136715
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/136715/files/Haley_Krissoff_39_2.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.136715?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Dutton, John & Grennes, Thomas, 1985. "Measurement of Effective Exchange Rates Appropriate for Agricultural Trade," Department of Economics and Business - Archive 259748, North Carolina State University, Department of Economics.
    2. Pagano, Marcello & Hartley, Michael J., 1981. "On fitting distributed lag models subject to polynomial restrictions," Journal of Econometrics, Elsevier, vol. 16(2), pages 171-198, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hiemstra, Stephen W. & Shane, Mathew, 1988. "Monetary Factors Influencing GATT Negotiations on Agriculture," Foreign Agricultural Economic Report (FAER) 147990, United States Department of Agriculture, Economic Research Service.
    2. Haley, Stephen L., 1987. "Conceptual Model Of Competitiveness And Comparative Advantage In Agricultural 4 -5-71 Trade," Staff Reports 277948, United States Department of Agriculture, Economic Research Service.
    3. Andino, Jose & Mulik, Kranti & Koo, Won W., 2005. "The Impact Of Brazil And Argentina'S Currency Devaluation On U.S. Soybean Trade," Agribusiness & Applied Economics Report 23486, North Dakota State University, Department of Agribusiness and Applied Economics.
    4. Roger Claassen & Richard Horan, 2001. "Uniform and Non-Uniform Second-Best Input Taxes," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(1), pages 1-22, May.
    5. Larson, Donald W. & Bittencourt, Maurício Vaz Lobo & Thompson, Stanley R., 2005. "An Examination of the Impacts of Exchange Rate Volatility on Sectoral Trade in the Mercosur," 2005 Annual meeting, July 24-27, Providence, RI 19572, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Krissoff, Barry & Morey, Art, 1986. "The Dollar Turnaround And U.S. Agricultural Exports," Staff Reports 277923, United States Department of Agriculture, Economic Research Service.
    7. Haley, Stephen L. & Krissoff, Barry, 1988. "The Value Of The Dollar And Competitiveness Of U.S. Wheat Exports: Further Evidence," Staff Reports 278031, United States Department of Agriculture, Economic Research Service.
    8. Titus O. Awokuse & Yan Yuan, 2006. "The impact of exchange rate volatility on U.S. poultry exports," Agribusiness, John Wiley & Sons, Ltd., vol. 22(2), pages 233-245.
    9. Yuan, Yan & Awokuse, Titus O., 2003. "Exchange Rate Volatility And U.S. Poultry Exports: Evidence From Panel Data," 2003 Annual meeting, July 27-30, Montreal, Canada 22083, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dutton, John & Grennes, Thomas & Johnson, Paul R., 1986. "International Capital Plows and Agricultural Exports," 1986 Annual Meeting, July 27-30, Reno, Nevada 278452, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Baxter, Timothy M. & Smith, Mark E., 1987. "Exchange Rate Risk, Dollar Appreciation, And U.S. Export Credit Programs," Staff Reports 277944, United States Department of Agriculture, Economic Research Service.
    3. Krissoff, Barry & Morey, Art, 1986. "The Dollar Turnaround And U.S. Agricultural Exports," Staff Reports 277923, United States Department of Agriculture, Economic Research Service.
    4. Dallas S. Batten & Daniel L. Thornton, 1984. "How robust are the policy conclusions of the St. Louis equation?: some further evidence," Review, Federal Reserve Bank of St. Louis, vol. 66(Jun).
    5. J. David Richardson, 1988. "Exchange Rates and U.S. Auto Competitiveness," NBER Chapters, in: Misalignment of Exchange Rates: Effects on Trade and Industry, pages 215-240, National Bureau of Economic Research, Inc.
    6. J. David Richardson, 1987. "Exchange Rates and U.S. Auto Competitiveness," NBER Working Papers 2371, National Bureau of Economic Research, Inc.
    7. John C. Bluedorn, 2005. "Hurricanes: Intertemporal Trade and Capital Shocks," Economics Series Working Papers 241, University of Oxford, Department of Economics.
    8. Yabin Wang, 2017. "How Do Emerging Markets Respond to Macroeconomic Shocks? - Dynamic Panel Evidence on the Effects of Disasters," Open Economies Review, Springer, vol. 28(4), pages 731-760, September.
    9. Augustin Kwasi Fosu, 2011. "Terms of Trade and Growth of Resource Economies: A Tale of Two Countries," CSAE Working Paper Series 2011-09, Centre for the Study of African Economies, University of Oxford.
    10. Dallas S. Batten & Michael T. Belongia, 1987. "Do the new exchange rate indexes offer better answers to old questions?," Review, Federal Reserve Bank of St. Louis, issue May, pages 5-17.
    11. Hafer, R. W., 1985. "Choosing between M1 and debt as an intermediate target for monetary policy," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 22(1), pages 89-132, January.
    12. Augustin Kwasi Fosu, 2011. "Terms of Trade and Growth of Resource Economies: A Tale of Two Countries," CSAE Working Paper Series 2011-09, Centre for the Study of African Economies, University of Oxford.
    13. Premakumar, Velupillai, 1990. "Measuring the impacts of credit restrictions on the trade performance of debtor nations," ISU General Staff Papers 1990010108000010382, Iowa State University, Department of Economics.
    14. P. S. Sephton, 2010. "Unit roots and purchasing power parity: another kick at the can," Applied Economics, Taylor & Francis Journals, vol. 42(27), pages 3439-3453.
    15. Andrews, Donald W. K. & Fair, Ray C., 1992. "Estimation of polynomial distributed lags and leads with end point constraints," Journal of Econometrics, Elsevier, vol. 53(1-3), pages 123-139.
    16. Mack Ott, 1987. "The dollar's effective exchange rate: assessing the impact of alternative weighting schemes," Review, Federal Reserve Bank of St. Louis, issue Feb, pages 5-14.
    17. Maley, Stephen, 1986. "Currency Substitution: A Test Of Its Importance For The United States And Implications For Agricultural Trade," Staff Reports 277857, United States Department of Agriculture, Economic Research Service.
    18. Peter J. Saunders & Basudeb Biswas, 1990. "The Money Stock, the Price Level and Real Output: A Trivariate Analysis," Eastern Economic Journal, Eastern Economic Association, vol. 16(2), pages 145-150, Apr-Jun.
    19. Burfisher, Mary E., 1989. "Re-examining the Importance of Exchange Rates to U.S. Farm Exports to Developing Countries," WAEA/ WFEA Conference Archive (1929-1995) 245027, Western Agricultural Economics Association.
    20. Dallas S. Batten & Daniel L. Thornton, 1984. "Lag length selection and Granger causality," Working Papers 1984-001, Federal Reserve Bank of St. Louis.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uersja:136715. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/ersgvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.