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Grain Exports as a Source of Agricultural Instability*

Published online by Cambridge University Press:  28 April 2015

James N. Trapp  and
Stanley R. Thompson
James N. Trapp
Affiliation:
Department of Agricultural Economics, Oklahoma State University
Stanley R. Thompson
Affiliation:
Department of Agricultural Economics, Michigan State University
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Extract

Numerous recent articles have dealt with causes and implications of domestic agricultural market instability [2, 3, 4, 7]. In these articles large, unexpected and erratic grain exports since 1972 are hypothesized to be a primary contributor to recent agricultural market instability. More specifically, Seevers [4] and others have stated that recent severe instability in agriculture markets began in late 1972 with a combination of increased export demand and strong domestic economic expansion. These analyses have largely based their conclusions upon intuition rather than a thorough empirical investigation.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 9 , Issue 1 , July 1977 , pp. 197 - 205
Copyright
Copyright © Southern Agricultural Economics Association 1977

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Footnotes

*

Michigan State University Experiment Station Journal Article Number 8167. Research reported herein is based upon the senior author's Ph.D. dissertation and is a part of the Michigan State University National Agricultural Sector study. The authors wish to acknowledge the helpful suggestions and criticisms of Vernon Sorenson, David Watt, Daryll Ray, and the reviewers for this Journal

References

[1]Houck, J. P. and Ryan, M. E.. “Supply Analysis for Corn in the United States: The Impact of Changing Government Programs,” American Journal of Agricultural Economics, 54,1972, 184–191.CrossRefGoogle Scholar
[2]Johnson, D. Gale. “World Agriculture, Commodity Policy, and Price Variability,” American Journal of Agricultural Economics, 57, 1975, 823–28.CrossRefGoogle Scholar
[3]Robinson, K. L. “Unstable Farm Prices: Economic Consequences and Policy Options,” American Journal of Agricultural Economics, 57, 1975, 769–77.CrossRefGoogle Scholar
[4]Seevers, Gary L. “Food Policy: Implications for the Food Industry,” American Journal of Agricultural Economics, 58, 1976, 270–76.CrossRefGoogle Scholar
[5]Trapp, James N. “An Econometric Simulation Model of the United States Agricultural Sector,” Ph.D. Thesis, Michigan State University, 1976.Google Scholar
[6]Trapp, James N. and Thompson, Stanley R.. “A User's Guide to the M.S.U. National Agricultural Sector Model,” Forthcoming Michigan State University Research Bulletin.Google Scholar
[7]Tweeten, L. and Plaxico, J.. “U.S. Policies for Food and Agriculture in an Unstable World,” American Journal of Agricultural Economics, 56,1974, 364–71.CrossRefGoogle Scholar