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Variability in wheat export demand elasticity: Policy implications

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  • S. Devadoss
  • William H. Meyers

Abstract

Agricultural economists and policy makers in the United States believe that the magnitude of the export demand elasticity is one of the most important parameters used in farm policy decisions. However, past empirical estimates show wide variation in the size of the U.S. export demand elasticity. Reasons for this wide variation go beyond differences in model specification, estimation methods, and period of estimation to involve factors such as trade policies and changes in the supply and demand conditions of foreign countries. In view of the continual variation in magnitude, the elasticity of export demand should be viewed as a variable rather than as a parameter. In this study, U.S. wheat export demand elasticities are computed using a world wheat trade model. The estimates show that the elasticities vary significantly over time. They also reveal that elimination of trade barriers would more than double wheat export demand elasticities.

Suggested Citation

  • S. Devadoss & William H. Meyers, 1990. "Variability in wheat export demand elasticity: Policy implications," Agricultural Economics, International Association of Agricultural Economists, vol. 4(3-4), pages 381-394, December.
    • Handle: RePEc:bla:agecon:v:4:y:1990:i:3-4:p:381-394
    DOI: 10.1111/j.1574-0862.1990.tb00129.x
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    Cited by:

    1. Hamilton, Stephen F. & Stiegert, Kyle W., 2002. "An empirical test of the rent-shifting hypothesis: the case of state trading enterprises," Journal of International Economics, Elsevier, vol. 58(1), pages 135-157, October.
    2. Surabhi Mittal, 2007. "OECD Agricultural Trade Reforms Impact on India's Prices and Producers Welfare," Indian Council for Research on International Economic Relations, New Delhi Working Papers 195, Indian Council for Research on International Economic Relations, New Delhi, India.
    3. Devadoss, Stephen & Li, Shuangling & Jones, James, 1994. "A Stochastic Simulation Analysis Of The Effects Of Indian Wheat Production Instability On The World Wheat Market," A.E. Research Series 305125, University of Idaho, Department of Agricultural Economics and Rural Sociology.
    4. Surabhi MITTAL, 2009. "Will OECD Agricultural Trade Reforms Impact India's Crop Prices and Farmers Welfare?," EcoMod2009 21500067, EcoMod.
    5. Devadoss, Stephen & Li, Shuangling & Jones, James, 1997. "A Stochastic simulation analysis of the effects of Indian wheat production instability on the world wheat market," Journal of Policy Modeling, Elsevier, vol. 19(4), pages 375-379, August.
    6. Mohammad Hasan Mobarok & Wyatt Thompson & Theodoros Skevas, 2021. "COVID-19 and Policy Impacts on the Bangladesh Rice Market and Food Security," Sustainability, MDPI, vol. 13(11), pages 1-18, May.
    7. Haoatai, Heinarii & Monypenny, Richard, 2011. "Export demand for Tahitian black pearls," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 19, pages 1-16.
    8. Jones,James R. & Li, Shuangling & Devadoss, Stephen, 1994. "The Former Soviet Union And The World Wheat Economy," A.E. Research Series 305124, University of Idaho, Department of Agricultural Economics and Rural Sociology.
    9. Surabhi Mittal, 2007. "Oecd Agricultural Trade Reforms Impact On India’s Prices And Producers Welfare," Trade Working Papers 22225, East Asian Bureau of Economic Research.

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