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Reserve Stocks of Grain: A Review of Research

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  • Walker, Rodney L.
  • Sharples, Jerry

Abstract

Research and theory related to reserve stocks accumulation is reviewed. The objectives of holding reserves, storage rules, market conditions, and evaluation of storage rules in achieving objectives are considered. Major conclusions are: There is no one optimal stocks policy; in future models to analyze alternative stocks policies, the demand portion heeds to incorporate a more thorough demand-for-U.S.-exports component; future studies should examine substitutability in demand for all food and feed grains and oilseeds; supply, in addition to being considered a function of stochastic yields, should also be defined as a function of planted acres, where acreage responds to market conditions and public farm programs; and public vs. private control needs to be examined

Suggested Citation

  • Walker, Rodney L. & Sharples, Jerry, 1975. "Reserve Stocks of Grain: A Review of Research," Agricultural Economic Reports 307547, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:307547
    DOI: 10.22004/ag.econ.307547
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    References listed on IDEAS

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    1. Mackie, Arthur B., 1974. "International Dimension Of Agricultural Prices," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 6(1), pages 1-13, July.
    2. Walter Y. Oi, 1972. "The Consumer Does Benefit from Feasible Price Stability: A Comment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(3), pages 494-498.
    3. Mackie, Arthur B., 1974. "International Dimension of Agricultural Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 6(1), pages 11-23, July.
    4. Paul A. Samuelson, 1972. "The Consumer Does Benefit from Feasible Price Stability," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(3), pages 476-493.
    5. Benton F. Massell, 1969. "Price Stabilization and Welfare," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(2), pages 284-298.
    6. Gustafson, Robert L., 1958. "Carryover levels for grains: A method for determining amounts that are optimal under specified conditions," Technical Bulletins 157231, United States Department of Agriculture, Economic Research Service.
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    1. Walker, Rodney L. & Sharples, Jerry A., 1977. "Stabilizing The International Wheat Market With A U.S. Buffer Stock," 1977 Occasional Paper Series No. 1 190955, International Association of Agricultural Economists.

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