The conventional wisdom on agricultural trade has been that trade barriers are primarily determined by domestic agricultural and food price policies. For example, European Union (EU) import levies and export subsidies were determined by intervention and threshold prices, and U.S. sugar import...

In the agricultural economics literature, relatively little attention has been given to the effects of interest rates on the U.S. farm sector. According to macroeconomic theory, monetary policy influences the interest rate. Changes in the interest rate will have an effect on a farmer's decision...

Changes in relative prices or terms of trade, i.e., the ratio of farm output to farm input or nonfarm output prices, have significant implications for the farm economy. If the prices farmers receive for their outputs increase (decrease) relative to the prices they pay for their inputs, the...

Land reform and asset privatization are essential to the transformation of agriculture from a state controlled to privately operated sector and to its future development in a market oriented economy. Although these are necessary conditions for economic development under a market oriented regime,...

This report presents estimates of supply, demand, and price transmission elasticities for the U.S. livestock, poultry, and dairy sectors. The estimates are derived from models maintained by the Food and Agricultural Policy Research Institute (FAPRI) and are prepared in accordance with procedures...

Commodity modeling is like many other endeavors in science and in life—we continue to strive for completeness and perfection but may never be satisfied with the current level of our accomplishments. This is a productive attitude, because it always generates incentives for continued effort...

Granger Causality tests are run to examine the causal relationships between the trade deficit, another macroeconomic variable, and U.S. prices. The results show that strong causal relationships run from the trade deficit to agricultural prices but not to nonagricultural prices. Results of...

Meyers uses the FAPRI agricultural commodity models to help analyze how the final passage of the GATT agreement will impact Russia, the Newly Independent States (NIS), and Central and Eastern Europe. While there are benefits from the GATT accord, he notes that the GATT agreement cannot be seen...

The United States has an extensive assistance program for less developed countries (LDCs), although its contribution is the lowest among the developed market economies in percent of allocated GNP (OECD 1988). On average for 1985/86, about 11.2 percent or $1.05 billion (1985 prices and exchange...

Agricultural trade problems have been receiving increased attention in the United States for the last few years. The reason is obvious. After a decade during which the value of agricultural exports grew from $8 billion annually to a peak of nearly $44 billion in 1981, both quantities and values...