摘要:

Global export subsidies are known to be welfare reducing. This paper demonstrates that a small targeted subsidy can increase the welfare of the subsidizing country by exploiting differences in excess demand elasticities. Targeted export subsidies can also increase the subsidizing country's welfare by exploiting transportation cost differences, excess supply elasticities of competitors, or excess demand elasticities of markets supplied by competitors when markets are shared. An empirical model of the world wheat market illustrates the theoretical conclusions. An optimal targeted subsidy scheme causes a small increase in U.S. welfare but with major disruptions in world trade flows.

ISSN:0002-9092    

DOI:10.2307/1242181

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

An economic model of supply/demand for U.S. rice suggests that increases in risk result in decreased acreage and increased marketing margins. In a market equilibrium context, the empirical results also suggest rice production and rice prices are more responsive to changes in risk faced by marketing firms than changes in risk faced by producing firms.

ISSN:0002-9092    

DOI:10.2307/1242182

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

This paper considers the role of competitive storage in markets for annually harvested field crops. A quarterly model is presented that considers the allocative role of storage both within and between crop years. Rational price expectations are endogenous variables calculated by a recursive method. Forward stochastic simulations using the model generate data that can be used to characterize the distributions of the variables. In the base case, the model is assigned parameter values from a quarterly econometric model of the U.S. soybean market. The results shed light on the distributions of the quarterly variables, including the rational price expectations, and show how these distributions are affected by changes in the carrying charge.

ISSN:0002-9092    

DOI:10.2307/1242183

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

This paper updates the Lyon and Simon quasi‐experimental price elasticities of cigarette demand and studies their sensitivity to changes in the cigarette market over time as well as their sensitivity to the effects of bootlegging. The results indicate a downward trend in these elasticities over time and an upward bias for states where bootlegging exists. However, once the comparison group is modified to include bootlegging‐free states only, this difference over time and across groups becomes statistically insignificant.

ISSN:0002-9092    

DOI:10.2307/1242184

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

An analysis of the supply response for perennial crops is undertaken for rubber in Sri Lanka, focusing on the uprooting‐replanting decision and disaggregating the typical “reduced‐form” supply response equation into several structural relationships. This approach is compared and contrasted with Dowling's analysis of supply response for rubber in Thailand, which is based upon a sophisticated reduced‐form supply function developed by Wickens and Greenfield for Brazilian coffee. Because the uprooting‐replanting decision is central to understanding rubber supply response in Sri Lanka and for other perennial crops where replanting activities dominate new planting, the standard approaches do not adequately capture supply response.

ISSN:0002-9092    

DOI:10.2307/1242185

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

The cycle in prices and output is not a permanent fixture of the pork industry. Exogenous shocks occasionally give rise to predictable cycles in pork prices, but these are eventually eliminated in a manner that is consistent with the existence of countercyclical producers. It normally takes several revolutions of the cycle before a sufficient number of countercyclical producers notice that a cycle has begun and are able to alter their production patterns sufficiently to eliminate it. Consequently, the more compelling the evidence is in favor of a cycle the less likely it is to continue.

ISSN:0002-9092    

DOI:10.2307/1242186

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

Land use shifts between cropland and pasture affect the demand for beef cow inventories because economically viable cow‐calf enterprises are pasture‐based. Econometric analysis indicates an inverse relationship of −36.6 thousand head of beef cows per million acre change in harvested cropland. Curtailment of the expansion phase of the current cattle cycle and subsequent declines in cow numbers is in part attributable to large acreages converted from pasture to cropland in the early 1980s. Conversely, crop policies which encouraged reconversion to pasture would stimulate rebuilding beef cow numbers and increase beef supply.

ISSN:0002-9092    

DOI:10.2307/1242187

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

Extension economists in many states develop decision aids to assist agricultural producers in evaluating farm program participation. It is important that these analytical procedures yield reliable results. Consistency among procedures is also important when they are used in formulating competitive bids for programs like the Dairy Termination Program. Seven Dairy Termination Program break‐even bid procedures are examined. The results show that the analytical approaches are conceptually quite different and that numerical results derived for an example farm are inconsistent.

ISSN:0002-9092    

DOI:10.2307/1242188

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

A whole‐farm simulation analysis is used to investigate producer preferences for adoption of separate tillage practices (minimum‐till, combination‐till, or no‐till) under provisions of both the 1981 and 1985 farm bills. An analysis of preference for participation or nonparticipation in government programs under both farm bills is also considered. For risk‐averse producers, a combination‐tillage practice with program participation is found to dominate (as measured by stochastic dominance) the other strategies considered under both the 1981 and 1985 provisions.

ISSN:0002-9092    

DOI:10.2307/1242189

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

National average soybean yields are skewed with a relatively high chance of low yields. Maximum likelihood estimates support this hypothesis. Revised forecasts which account for skewed yields are positioned higher than forecasts based on the illusion of a symmetric distribution. Also, yield instability has been increasing steadily; the standard deviation of the soybean yield distribution is twenty‐five percent higher in the late 1980s than it was in the early 1970s.

ISSN:0002-9092    

DOI:10.2307/1242190

出版商:Oxford University Press    

年代:1987

数据来源: WILEY