Examining Intertemporal Export Elasticities for Wheat, Corn, and Soybeans: A Stochastic Coefficients Approach

The response of export demand to price changes for selected agricultural products did not become elastic over the 1969-77 period. This report is the first to test empirically the hypothesis that, during the 1970's, competition increased and the United States became a marginal exporter of farm p...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Author Conway, Roger K
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.1985
Subjects
Elasticity of demand
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Summary:The response of export demand to price changes for selected agricultural products did not become elastic over the 1969-77 period. This report is the first to test empirically the hypothesis that, during the 1970's, competition increased and the United States became a marginal exporter of farm products, generating elastic export demand. The author uses a new econometric procedure to assess export demand elasticities for U.S. wheat, corn, and soybeans.