The Effects of Soybean Protein Changes on Major Agricultural Markets

What are the likely impacts of biogenetically increasing the protein content of soybeans? In this study, the linkages among the associated sectors are identified and quantified for probable impacts by sectors. The authors also illustrate appropriate procedures for assessing potential technological improvements. They determine that U.S. crop producers benefit, but corn producers gain more than soybean producers

Measuring the impacts of credit restrictions on the trade performance of debtor nations

The interdependence of the developed world economy and that of the third world has been increasingly evident since the debt crisis of the eighties. International trade declined with the consequence of global economic stagnation. One major contributor to the cumulative and self reinforcing nature of the crisis is the trade impacts of the restrictive capital flows. Trade models applied to extract the debt-to-trade linkages have generally over looked the micro economic behavior that lead to the observed macroeconomic performance. Micro economic models abound that examine the theoretical concerns of this issue. This study re-examines the theoretical considerations, especially as they apply to limited capital availability and the consequences in consumption and investment behavior. Such decisions, made under limited borrowing ability, are linked to the conventional trade model via the national income and balance of payments account identities. The observed consumption and investments are modelled as deviating from the optimal, with no limits on borrowing, and a model is developed to measure this adjustment in total absorption. Import decisions arise from the consumption and investment demands so determined. Export production is dependent on the capacity to import. Thus the trade performance is linked to the consumption and investment decisions and is affected by the capital constraints. The adjustment factor thus obtained, in combination with the traditional elasticity measures enables constructing export and import elasticities with respect to constraining capital. The model estimates were made on a pooled data of eighteen countries that face debt problems. The model estimates confirm the linkages. However, the sensitivity of trade to credit limits appear too low, possibly due to the degree of heterogeneity in the pooled data

An Econometric Decomposition of Aggregate Data: Application to the EU-15 Average Cattle Slaughter Weight

The level of aggregation of reported data has limited the proper accounting of live animals in many livestock models, making the consistency of their underlying biologics suspect. The authors suggest an econometric methodology to decompose a wide range of aggregate data, and they apply this method to estimate a disaggregated average cattle slaughter weight for calves, cows, and other cattle from total beef production data in the European Union

User Manual for CPEP: The Corn Product Evaluation Program, a Macro Program in Lotus 1-2-3

This manual documents the first release of the the Corn Product Evaluation Program (CPEP) program. The CPEP is a Lotus 1-2-3 macro program that is intended to facilitate benefit/cost evaluation of alternative corn products. The program is fully menu-driven. The user is guided through the program via typical 1-2-3 menus, from which the user makes selections. A working knowledge of Lotus 1-2-3 is all that is required to use CPEP. A proficient Lotus macro programmer, however, can further modify or customize the program to meet more specialized needs

World Trade Impacts of Foot and Mouth Disease in Taiwan

The recent ban on pork exports from Taiwan resulting from an outbreak of foot and mouth disease (FMD) in March 1997 will significantly alter future world trade patterns in pork. This study provides an in-depth analysis of the price and trade effects of this export ban. The analysis uses the Food and Agricultural Policy Research Institute (FAPRI) model of world agricultural production and trade to simulate the removal of Taiwan\u27s pork exports from world markets. The model enables examination of the interaction among pork, other meats, feed grains, and protein meal feeds

The Impact of EEP Removal on U.S. Wheat

The Export Enhancement Program (EEP) was initiated under the Food Security Act of 1985 to offset the adverse effects of unfair trade practices on U.S. exports and to support U.S. prices. More recently, EEP has been constrained by both GATT and the FAIR Act. This study measures the impacts of the elimination of the EEP on U.S. wheat exports and prices over the coming 10-year period. The commodity trade models at the Food and Agricultural Policy Research Institute (FAPRI) are used to analyze the policy question

FAPRI 1997 U.S. Agricultural Outlook

The Food and Agricultural Policy Research Institute develops a long-term outlook for the world agricultural sector once each year. While the initial steps to develop the new baseline start as soon as the previous year’s baseline is completed, the work begins in earnest in September and October with a discussion of policy and macroeconomic assumptions as well as a review of the models to be used in the upcoming exercise. The preliminary baseline is developed in November and that preliminary baseline is then shared among a number of reviewers. During the first or second week of January, more than 100 respondents are brought together for a two-day review process. Each segment of the baseline is presented and examined in a frank and open exchange of views. Subsequent to that review, the preliminary baseline is finalized

Measuring the impacts of credit restrictions on the trade performance of debtor nations

The interdependence of the developed world economy and that of the third world has been increasingly evident since the debt crisis of the eighties. International trade declined with the consequence of global economic stagnation. One major contributor to the cumulative and self reinforcing nature of the crisis is the trade impacts of the restrictive capital flows. Trade models applied to extract the debt-to-trade linkages have generally over looked the micro economic behavior that lead to the observed macroeconomic performance. Micro economic models abound that examine the theoretical concerns of this issue. This study re-examines the theoretical considerations, especially as they apply to limited capital availability and the consequences in consumption and investment behavior. Such decisions, made under limited borrowing ability, are linked to the conventional trade model via the national income and balance of payments account identities. The observed consumption and investments are modelled as deviating from the optimal, with no limits on borrowing, and a model is developed to measure this adjustment in total absorption. Import decisions arise from the consumption and investment demands so determined. Export production is dependent on the capacity to import. Thus the trade performance is linked to the consumption and investment decisions and is affected by the capital constraints. The adjustment factor thus obtained, in combination with the traditional elasticity measures enables constructing export and import elasticities with respect to constraining capital. The model estimates were made on a pooled data of eighteen countries that face debt problems. The model estimates confirm the linkages. However, the sensitivity of trade to credit limits appear too low, possibly due to the degree of heterogeneity in the pooled data.</p

The Effects of Soybean Protein Changes on Major Agricultural Markets

What are the likely impacts of biogenetically increasing the protein content of soybeans? In this study, the linkages among the associated sectors are identified and quantified for probable impacts by sectors. The authors also illustrate appropriate procedures for assessing potential technological improvements. They determine that U.S. crop producers benefit, but corn producers gain more than soybean producers.</p

Support Prices as Policy Tools in Dairy Industry: Issues in Theoretical Modeling

A framework for modeling the dairy sector is developed, emphasizing the complexities unique to this multiproduct industry. Equilibrium conditions among competitive and joint dairy products are specified subject to mass balancing requirements, stable economic relationships, and appropriate policy parameters. The model is applied to Canada and incorporates the country-specific dairy policy mix.</p