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Price Elasticity of the Marketed Surplus of a Subsistence Crop

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  • Jere R. Behrman

Abstract

The supply response of the marketed surplus of food grains in the agricultural sector of less-developed countries has long been a subject of debate in discussions of the effects of such policies as P.L. 480 disposals, food price regulations, and export taxes. Estimates of this response have been very few because the lack of time-series data for marketed quantities precludes direct estimation. This article presents a model for the indirect estimation of the price elasticity of the marketed surplus of a subsistence crop. The model is contrasted with an earlier model presented by Raj Krishna. The model is then applied to the case of Thai rice. In this application, some new nonlinear estimates of a Nerlovian model for the total supply response of Thai rice production are also presented and discussed.

Suggested Citation

  • Jere R. Behrman, 1966. "Price Elasticity of the Marketed Surplus of a Subsistence Crop," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(4_Part_I), pages 875-893.
    • Handle: RePEc:oup:ajagec:v:48:y:1966:i:4_part_i:p:875-893.
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    File URL: http://hdl.handle.net/10.2307/1236619
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    Citations

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    Cited by:

    1. Diebold, Francis X. & Lamb, Russell L., 1997. "Why are estimates of agricultural supply response so variable?," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 357-373.
    2. Liu, Karen, 1981. "Multiple Crop Supply and Factor Demand Component of the World Grains, Oilseeds, and Livestock Model," Staff Reports 276718, United States Department of Agriculture, Economic Research Service.
    3. G. Mythili, 2006. "Supply response of Indian farmers: Pre and post reforms," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2006-009, Indira Gandhi Institute of Development Research, Mumbai, India.
    4. Krishna, Raj, 1967. "Agricultural Supply Projections," 1967 Conference, August 21-30, 1967, Sydney, New South Wales, Australia 209681, International Association of Agricultural Economists.
    5. Galtier, Franck, 2023. "Take an inch for a mile. About an error of metrics in WTO rules and its impact on the ability of countries to build public stocks for food security," Food Policy, Elsevier, vol. 116(C).
    6. Jouf, C. & Lawson, L.A., 2022. "European farmers’ responses to higher commodity prices: Cropland expansion or forestlands preservation?," Ecological Economics, Elsevier, vol. 191(C).
    7. Donato, Romano & Carraro, Alessandro, 2015. "Modelling Acreage, Production and Yield Supply Response to Domestic Price Volatility," 2015 Fourth Congress, June 11-12, 2015, Ancona, Italy 207278, Italian Association of Agricultural and Applied Economics (AIEAA).
    8. Tomek, William G. & Robinson, Kenneth L., 1977. "PART V. Agricultural Price Analysis and Outlook," AAEA Monographs, Agricultural and Applied Economics Association, number 337217, january.
    9. Rifin, Amzul, 2021. "Marketed Surplus of Indonesian Rice Production," 2021 Conference, August 17-31, 2021, Virtual 315019, International Association of Agricultural Economists.

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