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Wheat Acreage Supply Response In The United States

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  • Burt, Oscar R.
  • Worthington, Virginia E.

Abstract

The dynamic structure of wheat acreage supply response is considerably more complex than previous studies have recognized. The distributed lag response is saw-toothed in its pattern, which is believed to eminate from the influence of summer fallow in crop rotations in the Great Plains. The acreage response elasticity estimate for the Great Plains at mean price was 1.3, and for the aggregate U.S. it was 1.5. For the Unites States, the proportion of long-run response experienced over the first five years from an increment to price was .24, .44, .70, .95, and. 99.

Suggested Citation

  • Burt, Oscar R. & Worthington, Virginia E., 1988. "Wheat Acreage Supply Response In The United States," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(01), pages 1-12, July.
    • Handle: RePEc:ags:wjagec:32160
    DOI: 10.22004/ag.econ.32160
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    References listed on IDEAS

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    1. Oscar R. Burt, 1986. "Econometric Modeling of the Capitalization Formula for Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(1), pages 10-26.
    2. Eckstein, Zvi, 1984. "A Rational Expectations Model of Agricultural Supply," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 1-19, February.
    3. Oscar R. Burt & Won W. Koo & Norman J. Dudley, 1980. "Optimal Stochastic Control of U.S. Wheat Stocks and Exports," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(2), pages 172-187.
    4. Evans, Sam, 1980. "Acreage Response To The Target Price And Set-Aside Provisions Of The Food And Agriculture Act Of 1977," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 32(4), pages 1-11, October.
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    Cited by:

    1. Carey, Kathleen, 1992. "The U.S. Wheat And Corn Programs: Some Domestic Welfare And International Trade Implications," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(01), pages 1-8, July.
    2. Michael Livingston & Michael J. Roberts & Yue Zhang, 2015. "Optimal Sequential Plantings of Corn and Soybeans Under Price Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(3), pages 855-878.
    3. Krause, Mark A. & Koo, Won W., 1996. "Acreage Responses To Expected Revenues And Price Risk For Minor Oilseeds And Program Crops In The Northern Plains," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(2), pages 1-16, December.
    4. Chavas, Jean-Paul & Holt, Matthew T., 1989. "An Analysis of Acreage Decisions Under Risk: The Case of Corn and Soybeans," Staff Papers 200476, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    5. Unknown, 2006. "Journal of International Agricultural Trade and Development, Volume 2, Number 2, Fall 2006," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 2(2).
    6. Leonard, J. Mark & Dicks, Michael R. & Richter, Francisca G.-C., 2001. "Spatial Differences of Land Use Change within Oklahoma's Wheat Belt," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36130, Western Agricultural Economics Association.
    7. Unterschultz, James R. & Jeffrey, Scott R. & Quagrainie, Kwamena K., 2000. "Value-Adding 20 Billion By 2005: Impact At The Alberta Farm Gate," Project Report Series 24049, University of Alberta, Department of Resource Economics and Environmental Sociology.
    8. Meyers, Keith A., 2017. "In the Shadow of the Mushroom Cloud: Nuclear Testing, Radioactive Fallout and Damage to U.S. Agriculture," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258121, Agricultural and Applied Economics Association.
    9. Vavra, Pavel & Smith, Vincent H., 1996. "Cereals Area Supply Response in the U.K.: The Effects of CAP Reform," Research Discussion Papers 256817, Montana State University, Department of Agricultural Economics and Economics, Trade Research Center.
    10. Choi, Jung-Sup & Helmberger, Peter G., 1993. "How Sensitive Are Crop Yields To Price Changes And Farm Programs?," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 25(01), pages 1-8, July.
    11. Aradhyula, Satheesh Venkata, 1989. "Policy structure, output supply and input demand for US crops," ISU General Staff Papers 198901010800009909, Iowa State University, Department of Economics.

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    Keywords

    Crop Production/Industries;

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