The Short-Run Elasticity of Demand for U.S. Wheat Exports

摘要

Two static equilibrium world wheat models are used to estimate the short-run elasticity of demand for U.S. wheat exports. The analysis explicitly accounts for six factors that affect the estimate: the demand for year-end carryover stocks of wheat in exporting countries, domestic wheat demand outside the United States, domestic wheat price policies of other countries, trade agreements, international shipping costs, and foreign exchange constraints faced by some importers.