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Dynamic Interrelationships between the U.S. Agricultural Trade Balance and the Macroeconomy

Author

Listed:
  • Baek, Jungho
  • Koo, Won W.

Abstract

The effects of the exchange rate and the income and money supply of the United States and its major trading partners on the U.S. agricultural trade balance are examined using an autoregressive distributed lag (ARDL) model. Results suggest that the exchange rate is the key determinant of the short-and long-run behavior of the trade balance. It is also found that the income and money supply in both the United States and the trading partners have significant impacts on U.S. agricultural trade in both the short and long run.

Suggested Citation

  • Baek, Jungho & Koo, Won W., 2007. "Dynamic Interrelationships between the U.S. Agricultural Trade Balance and the Macroeconomy," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 39(3), pages 1-14, December.
    • Handle: RePEc:ags:joaaec:6301
    DOI: 10.22004/ag.econ.6301
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    Cited by:

    1. Zheng, Hualu & Muhammad, Andrew & Herndon, Cary W., Jr., 2009. "The Impacts of Ethanol on the US Catfish Farm Sector," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46248, Southern Agricultural Economics Association.
    2. Bożena Kusz & Dariusz Kusz & Iwona Bąk & Maciej Oesterreich & Ludwik Wicki & Grzegorz Zimon, 2022. "Selected Economic Determinants of Labor Profitability in Family Farms in Poland in Relation to Economic Size," Sustainability, MDPI, vol. 14(21), pages 1-25, October.
    3. Salifou K. Coulibaly & Cao Erbao, 2019. "An empirical analysis of the determinants of cocoa production in Cote d’Ivoire," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-19, December.
    4. Kwame Asiam Addey & William Nganje, 2023. "The role of the U.S. exchange‐rate equity market volatility on agricultural exports and forecasts," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 71(1), pages 25-47, March.
    5. Oluwatoyese Oluwapemi Oyetade & Abiola Asaleye & Olabisi Popoola & Adedoyin Lawal, 2020. "Agricultural Export and Macroeconomic Factors in Nigeria: The Bound Test Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 165-169.

    More about this item

    Keywords

    International Relations/Trade;

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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