Causes and Consequences of the Export Enhancement Program for Wheat
AbstractThis paper uses regression analysis to study the causes and impacts of the Export Enhancement Program for wheat. We find that the overwhelming causes of the EEP, faltering export markets and swelling government stocks are primarily attributable to the overvaluation of the dollar in the 1980s, not the increase in EC subsidies to wheat farmers in 1985. We also find that what had been a fairly robust relationship between export shares, exchange rates, and loan rates broke down after 1985, probably due to a variety of changes in farm policy. In any case, export shares did not rebound in spite of the weaker dollar and the implementation of the EEP in the post-1985 period.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5359.
Date of creation: Nov 1995
Date of revision:
Publication status: published as Pinelopi Koujianou Goldberg, Michael M. Knetter. "Causes and Consequences of the Export Enhancement Program for Wheat," in Robert C. Feenstra, editor, "The Effects of U.S. Trade Protection and Promotion Policies" University of Chicago Press (1997)
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Other versions of this item:
- Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Causes and Consequences of the Export Enhancement Program for Wheat," NBER Chapters, in: The Effects of U.S. Trade Protection and Promotion Policies, pages 273-296 National Bureau of Economic Research, Inc.
- F1 - International Economics - - Trade
- Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
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- Meredith Crowley, 2006. "The agreement on subsidies and countervailing measures: tying one's hands through the WTO," Working Paper Series WP-06-22, Federal Reserve Bank of Chicago.
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