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Short-Run Demand Elasticity Estimates in International Grain Trade

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  • Wilde, L. Chase

Abstract

The international market for grains joins economic and political decision making at the national level. Outcomes predicted from the theory of comparative advantage can be potentially swayed by political swayed by political choices as well as technical factors. Empirical estiamtes of import demand elasticities for grains provided in this paper are based on a model that treats domestic agricultural policy as an active ingredient in trading decisions. Results show that domestic pricing, production, and stockholding policies of importing countries can and often do have an impact on demand elasticities at the international level. Taking into consideration the interdependence of domestic policy effects contributes to the development of effective agricultural and foreign policy.

Suggested Citation

  • Wilde, L. Chase, 1987. "Short-Run Demand Elasticity Estimates in International Grain Trade," 1987 Occasional Paper Series No. 4 197433, International Association of Agricultural Economists.
  • Handle: RePEc:ags:iaaeo4:197433
    DOI: 10.22004/ag.econ.197433
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    References listed on IDEAS

    as
    1. Thorald K. Warley, 1976. "Agriculture in International Economic Relations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(5), pages 820-830.
    2. Morrow, Daniel T., 1980. "The economics of the international stockholding of wheat:," Research reports 18, International Food Policy Research Institute (IFPRI).
    3. Warley, T.K., 1976. "Agriculture in International Economic Relations," 1976 Annual Meeting, August 15-18, State College, Pennsylvania 283828, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    Full references (including those not matched with items on IDEAS)

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