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Evaluation Of Export Enhancement, Dollar Depreciation, And Loan Rate Reduction For Wheat

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  • Haley, Stephen L.

Abstract

Ghis report evaluates the effect of export enhancement, dollar depreciation, and a 5-percent loan rate reduction on U.S. wheat exports for the 1986/87 crop yearL-2 Depending on one's interpretation of the European Community's motivation for its own targeted subsidy program, U.S. export enhancement bonuses have likely increased the U.S. price of wheat between 7 and 22 percent, U.S. wheat export volume between 10 and 31 percent, and U.S. wheat export revenue between 18 and 61 percent. Together, a 5-percent loan rate reduction and a change in the real value of the dollar corresponding to the actual change between the fall of 1986 and 1987 would have increased U.S. wheat export volume by over 5 percent and U.S. export revenue by over 6 percent. The loan rate reduction causes a greater response in expanding wheat sales, but the exchange rate change is potentially more important for increasing U.S. wheat export revenue. The EC's comparative disadvantage in world wheat trade makes it extremely vulnerable to policies of the United States and to currency realignments.

Suggested Citation

  • Haley, Stephen L., 1989. "Evaluation Of Export Enhancement, Dollar Depreciation, And Loan Rate Reduction For Wheat," Staff Reports 278157, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278157
    DOI: 10.22004/ag.econ.278157
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    File URL: https://ageconsearch.umn.edu/record/278157/files/ers-report-386.pdf
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    References listed on IDEAS

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    1. Newman, Mark & Fulton, Tom & Glaser, Lewrene, 1987. "A Comparison of Agriculture in the United States and the European Community," Foreign Agricultural Economic Report (FAER) 147987, United States Department of Agriculture, Economic Research Service.
    2. Houck, James P., 1988. "Market Effects of In-Kind Subsidies," Working Papers 51249, International Agricultural Trade Research Consortium.
    3. Sharples, Jerry A. & Dixit, Praveen M., 1988. "Forces that Could Expand U.S. Wheat Exports: Estimates From a World Wheat Trade Model," Staff Reports 277990, United States Department of Agriculture, Economic Research Service.
    4. Holland, Forrest D., 1985. "Gtp: A Microcomputer Program For The Spatial Equilibrium Problem," Staff Reports 277774, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Causes and Consequences of the Export Enhancement Program for Wheat," NBER Chapters, in: The Effects of US Trade Protection and Promotion Policies, pages 273-296, National Bureau of Economic Research, Inc.
    2. Diersen, Matthew A. & Wilson, William W. & Dahl, Bruce L. & Satyanarayana, Vidyashankara, 1997. "Additionality Of Credit Guarantees For U.S. Wheat Exports; Summary," Agricultural Economics Reports 23240, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Harwood, Joy L. & Bailey, Kenneth W., 1990. "The World Wheat Market--Government Intervention and Multilateral Policy Reform," Staff Reports 278264, United States Department of Agriculture, Economic Research Service.
    4. Golz, Joel T. & Koo, Won W., 1993. "Spatial Equilibrium Analysis of the World Wheat Market Under Alternative Trade Policies," Agricultural Economics Reports 23271, North Dakota State University, Department of Agribusiness and Applied Economics.
    5. Diersen, Matthew A. & Wilson, William W. & Dahl, Bruce L. & Satyanarayana, Vidyashankara, 1997. "Additionality Of Credit Guarantees For U.S. Wheat Exports," Agricultural Economics Reports 23425, North Dakota State University, Department of Agribusiness and Applied Economics.
    6. Satyanarayana, Vidyashankara & Johnson, D. Demcey, 1998. "Credit Guarantee Programs And U.S. Market Share In Selected Wheat Import Markets," Agricultural Economics Reports 23284, North Dakota State University, Department of Agribusiness and Applied Economics.

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