Effects of Japanese Import Demand on U.S. Livestock Prices: Comment

Henry W. Kinnucan ()

Journal of Agricultural & Applied Economics, 2004, vol. 36, issue 1, pages 251-255

Abstract: A recent study by Miljkovic, Marsh, and Brester estimates that reductions in the Japanese tariff-rate quota between 1993 and 2001 increased U.S. beef prices by $1.03 per cwt and yen depreciation between 1995 and 1998 reduced U.S. hog prices by $0.99 per cwt. Relaxing the assumption that U.S. beef and hog supplies are fixed cuts the total elasticities underlying these estimates by 50% or more. The upshot is that shocks in the Japanese market have little effect on U.S. beef and pork prices. Hence, producers may be better off focusing on domestic issues such as dietary concerns over red meat consumption.

Keywords: elasticities; exchange rates; import demand; income; supply response; tariffs (search for similar items in EconPapers)
JEL-codes: Q17 F14 C32 (search for similar items in EconPapers)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Access Statistics for this article

Journal of Agricultural & Applied Economics is edited by Jeffrey M. Gillespie

More articles in Journal of Agricultural & Applied Economics from Southern Agricultural Economics Association
Address: Secretary/Treasurer, Dept. of Agricultural and Applied Economics, University of Georgia, Georgia Experiment Station, Griffin, Georgia 30223
Series data maintained by Chung L. Huang ().