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Japanese Import Demand For U.S. Beef And Pork: Effects On U.S. Red Meat Exports And Livestock Prices

  • Miljkovic, Dragan
  • Marsh, John M.
  • Brester, Gary W.

Japanese import demand for U.S. beef and pork products and the effects on domestic livestock prices are econometrically estimated. Japan is the most important export market for U.S. beef and pork products. Results indicate foreign income, exchange rates, and protectionist measures are statistically significant. The comparative statistics quantify the effects of recent economic volatility. For example, the 1995-1998 depreciation in the Japanese yen (39%) reduced U.S. slaughter steer and hog prices by $1.29 per cwt and $0.99 per cwt, respectively, while the 1994-1998 reduction in tariffs (14%) increased slaughter steer and hog prices by $0.49 per cwt and $0.33 per cwt, respectively. Livestock producers will continue to have a vested interest in Asian trade liberalization policies.

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File URL: http://purl.umn.edu/15072
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Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 34 (2002)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:joaaec:15072
Contact details of provider: Web page: http://www.saea.org/jaae/jaae.htm

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  1. Ianchovichina, Elena & Thomas W. Hertel & Robert McDougall, 1999. "The East Asian Economic Crisis: It's not All Bad News," GTAP Working Papers 291, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
  2. Bahmani-Oskooee, Mohsen & Ltaifa, Nabil, 1992. "Effects of exchange rate risk on exports: crosscountry analysis," World Development, Elsevier, vol. 20(8), pages 1173-1181, August.
  3. Hayes, Dermot J. & Wahl, Thomas I. & Williams, Gary W., 1990. "Testing Restrictions on a Model of Japanese Meat Demand," Staff General Research Papers 10940, Iowa State University, Department of Economics.
  4. Brester, Gary W. & Wohlgenant, Michael K., 1997. "Impacts Of Gatt/Uruguay Round Trade Negotiations On U.S. Beef And Cattle Prices," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(01), July.
  5. Kenen, Peter B & Rodrik, Dani, 1986. "Measuring and Analyzing the Effects of Short-term Volatility in Real Exchange Rates," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 311-15, May.
  6. Thursby, Jerry G & Thursby, Marie C, 1987. "Bilateral Trade Flows, the Linder Hypothesis, and Exchange Risk," The Review of Economics and Statistics, MIT Press, vol. 69(3), pages 488-95, August.
  7. Keith E. Maskus, 1986. "Exchange rate risk and U.S. trade: a sectoral analysis," Economic Review, Federal Reserve Bank of Kansas City, issue Mar, pages 16-28.
  8. Capps, Oral, Jr. & Tsai, Reyfong & Kirby, Raymond & Williams, Gary W., 1994. "A Comparison Of Demands For Meat Products In The Pacific Rim Region," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(01), July.
  9. Cushman, David O., 1988. "U.S. bilateral trade flows and exchange risk during the floating period," Journal of International Economics, Elsevier, vol. 24(3-4), pages 317-330, May.
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