Welfare Implications of Grain Price Stabilization: Some Empirical Evidence for the United States

Panos A. Konandreas and Andrew Schmitz

American Journal of Agricultural Economics, 1978, vol. 60, issue 1, 74-84

Abstract: This empirical study demonstrates that, although United States producers and consumers taken together benefit from policies which would stabilize feed grain prices, this is likely not the case for wheat. The model specifies a U.S. domestic demand relationship for food and feed use, a stock relationship and a foreign demand sector; these are estimated by ordinary and two-stage least squares methods. The key to the analysis is in testing a well-known theoretical model in which the desirability of price stabilization largely depends on the source of instability (i.e., whether instability is generated abroad or is created internally).

Date: 1978
References: Add references at CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://hdl.handle.net/10.2307/1240163 (application/pdf)
Access to full text is restricted to subscribers.

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

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:60:y:1978:i:1:p:74-84.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().