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Inflation And U.S. Agriculture: A General Equilibrium Analysis Of The Events Of 1973

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  • Shei, Shun- Yi
  • Thompson, Robert L.

Abstract

An open general equilibrium econometric model of the U.S. economy, including a monetary sector, is used to decompose observed 1973 sectoral and aggregate price increases. In decreasing order the major causes found were: U.S. monetary expansion, the Soviet grain deal, dollar devaluation and the world crop. failure.

Suggested Citation

  • Shei, Shun- Yi & Thompson, Robert L., 1979. "Inflation And U.S. Agriculture: A General Equilibrium Analysis Of The Events Of 1973," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278279, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea79:278279
    DOI: 10.22004/ag.econ.278279
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    References listed on IDEAS

    as
    1. G. Edward Schuh, 1974. "The Exchange Rate and U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 1-13.
    2. Dale E. Hathaway, 1974. "Food Prices and Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 5(1), pages 63-116.
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    Cited by:

    1. Ronald A. Babula & Fred J. Ruppel & David A. Bessler, 1995. "U.S. corn exports: the role of the exchange rate," Agricultural Economics, International Association of Agricultural Economists, vol. 13(2), pages 75-88, November.
    2. Bruce Gardner, 1981. "On the Power of Macroeconomic Linkages to Explain Events in U.S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(5), pages 871-878.

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