CURRENCY SUBSTITUTION: A TEST OF ITS IMPORTANCE FOR THE UNITED STATES AND IMPLICATIONS FOR AGRICULTURAL TRADE

Stephen Maley

No 277857, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: Agricultural economists are concerned with effects of domestic and foreign monetary events on U.S. agriculture. Much attention has recently focused on the theory of currency substitution. This report explains the theory and evaluates evidence for the theory. Results indicate that evidence for currency substitution is weak. Although the benefit of specifying currency substitution in the context of macroeconomic/agricultural trade models is not likely to be high, additional research for the period after 1981 is needed.

Keywords: Agricultural and Food Policy; Agricultural Finance (search for similar items in EconPapers)
Pages: 17
Date: 1986-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:277857

DOI: 10.22004/ag.econ.277857

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