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Price responsiveness of world grain markets: the influence of government intervention on import price elasticity



Price responsiveness of world grain markets: the influence of government intervention on import price elasticity



Technical bulletin United States Dept of Agriculture: 986 (1720)



Intervention by governments in their foreign trade sectors fundamentally alters the character and composition of agricultural trade by making imports less responsive to international price changes than they otherwise would be. Intervention can also make world market prices change more frequently and more drastically. the authors developed a model of government intervention and applied it to the international wheat and rice markets using combined cross-country and time-series data.

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Accession: 013176697

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