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Price Elasticities From The Iiasa World Agriculture Model

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  • Seeley, Ralph

Abstract

Implied 2-year to 10-year price responses from the May 1984 IIASA world agriculture model are described. Net trade quantity changes with respect to percent world price changes are presented, as well as elasticities of supply, demand, net trade, and world-to-domestic price transmission. The regions include the EEC, Japan, Brazil, Argentina, Australia, Canada, Thailand, India, Egypt, Nigeria, and the world less the United States. Commodities shown are wheat, coarse grains, protein feed, ruminant meat, dairy, and other animal products. Implied second-year elasticities of net export demand facing the United States for wheat, coarse grains, and protein feed are -1.5, -1.7, and -1.5, respectively. Selected elasticities are compared with those from the 1978 GOL (grains, oilseeds, and livestock) model. Differences, particularly concerning price transmission and protein feed, are noted.

Suggested Citation

  • Seeley, Ralph, 1985. "Price Elasticities From The Iiasa World Agriculture Model," Staff Reports 277684, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:277684
    DOI: 10.22004/ag.econ.277684
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    File URL: https://ageconsearch.umn.edu/record/277684/files/ers-report-180.pdf
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    References listed on IDEAS

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    1. Rueben C. Buse, 1958. "Total Elasticities—A Predictive Device," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(4), pages 881-891.
    2. Williams, Gary W. & Thompson, Robert L., 1984. "The Brazilian Soybean Industry: Economic Structure and Policy Interventions," Foreign Agricultural Economic Report (FAER) 147520, United States Department of Agriculture, Economic Research Service.
    3. Collins, H. Christine, 1980. "Price Transmission Between the U.S. Gulf and Foreign Farm Markets," Economics Statistics and Cooperative Services (ESCS) Reports 329216, United States Department of Agriculture, Economic Research Service.
    4. Ayer, Harry W. & Baskett, James, 1978. "Elasticities: Supplementary Statistics From Interindustry Studies," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(1), pages 1-6, July.
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    Cited by:

    1. Tsigas, Marinos E. & Hertel, Thomas W. & Preckel, Paul V., 1990. "Modeling The U.S. Grains Programs: A Microeconomic Approach," 1990 Annual meeting, August 5-8, Vancouver, Canada 270990, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Webb, Alan J. & Kim, C.S., 1985. "The Response Of U.S. And Competitor Coarse Grains Exports To Changing Global Economic Conditions," 1985 Annual Meeting, August 4-7, Ames, Iowa 278580, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Worley, Thomas & Baldwin, Dean, 1990. "U.S. and Canada FTA and Its Agricultural Economic Ramifications," 1990 Annual meeting, August 5-8, Vancouver, Canada 270903, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Sullivan, John, 1990. "Price Transmission Elasticities in the Trade Liberalization (TLIB) Database," Staff Reports 278327, United States Department of Agriculture, Economic Research Service.
    5. Hertel, Thomas W., 1991. "Applied General Equilibrium Analysis of Agricultural Policies," Staff Papers 200396, Purdue University, Department of Agricultural Economics.
    6. Seeley, Ralph, 1986. "Equilibrium Price Solution Of Net Trade Models Using Elasticities," Staff Reports 277892, United States Department of Agriculture, Economic Research Service.
    7. Thomas W. Hertel & Marinos E. Tsigas, 1988. "Tax Policy and U.S. Agriculture: A General Equilibrium Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(2), pages 289-302.
    8. Gardiner, Walter H. & Dixit, Praveen M, 1987. "Price Elasticity of Export Demand: Concepts and Estimates," Foreign Agricultural Economic Report (FAER) 305286, United States Department of Agriculture, Economic Research Service.

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