A simple two-input and one-output model is used to examine the effects of variable input price uncertainty on a quasi-fixed factor. These theoretical results, applied to a livestock firm, indicate that choice of the quasi-fixed factor depends upon the attitude of the farmer toward risk and...

Agricultural trade policy has 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 of...

Price stabilization is an important policy goal of government intervention in competitive markets. These policies are primarily directed at raising producer income and stabilizing market prices at levels acceptable to consumers and producers (Fox 1956, Turnovsky 1978, Newbery and Stiglitz 1979)....

As the agricultural sector adjusts to financial stress and constantly changing national and international policies, additional structural changes are expected. The capacity for adjustment through existing agricultural asset markets depends on both the extent of farm restructuring and the...

Endogenizing the exchange rat in trade models over the period of fixed and flexible exchange rate systems poses an econometric problem in the estimation because of the fixity of the exchange rate under the fixed exchange rate system. An econometric technique, the grafted polynomial approach, is...

One of the central themes of the Food Security Act of 1985 (FSA85) is to make the United States more competitive in exporting agricultural commodities. The means to achieve this objective include lower loan rates, marketing loan provisions, and export credits and subsidies. The comprehensive...

The FAPRI models were developed to quantify trade and policy interactions among the major importing and exporting regions of the world. They are intended primarily for use in making intermediate-term projections and conducting policy impact analysis. Thus, they are relatively small, partial...

A quarterly econometric model of supply response I the U.S. Hog industry is constructed. This model incorporates relevant biological features of hog production directly into the structural specification. dynamic mean path elasticities of the model are analytically derived with the results...

With passage of the Food Security Act of 1985 (FSA85), Congress and the Administration set in motion the largest set of conservation measures since the inception of federal soil conservation programs. Although the FSA85 also has sodbuster, swampbuster, cross compliance and conservation easement...

A simultaneous equation model of the soybean sector in Taiwan is developed and estimated. The model integrates domestic supply and demand for soybeans, soymeal, and soyoil, in addition to the livestock market. The impacts of economic growth and policy changes upon the soybean market are...