Examining Intertemporal Export Elasticities for Wheat, Corn, and Soybeans: A Stochastic Coefficients Approach

摘要

The response of export demand to price changes for selected agricultural products has not become elastic over time. The report is the first to test empirically the hypothesis that with increased competition the United States has become a marginal exporter of farm products, generating elastic export demand. The author uses a new econometric procedure to assess export demand elasticities for U.S. wheat, corn, and soybeans.