A model of U.S. corn, sorghum, and soybean markets and the role of government programs (USAGMKTS)

Richard Just

No 448, Policy Research Working Paper Series from The World Bank

Abstract: This estimated model of corn, sorghum, and soybeans markets (USAGMKTS) serves as the U.S. agricultural sector in a study of the effects of U.S. agriculture and macroeconomic policy on Mexico's agricultural sector. This model of U.S. corn, sorghum, and soybeans markets also includes U.S. markets for beef, hogs, and poultry - because of their importance and endogeneity with respect to U.S. feed grain policies, which are major determinants of corn and sorghum prices. The model is part of a set of interlinked sectoral and macroeconomic models that link Mexico and the United States. This paper reports the results of the simulations of various alternative U.S. agricultural policy scenarios, to estimate the effects of various feed grain policy instruments. Plausible U.S. agricultural policy adjustments can alter border prices facing world trading partners by 10 to 15 percent. The extent of these adjustments depends heavily on the current state of the U.S. agricultural economy.

Keywords: Markets and Market Access; Access to Markets; Livestock&Animal Husbandry; Crops&Crop Management Systems; Economic Theory&Research (search for similar items in EconPapers)
Date: 1990-07-31
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