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Title: Effects of Japanese Import Demand on U.S. Livestock Prices: Comment
Authors: Kinnucan, Henry W.
Keywords: elasticities
exchange rates
import demand
supply response
JEL Codes: Q17
Issue Date: 2004-04
Abstract: A recent study of Miljkovic, Marsh, and Brester estimates that reductions in the Japanese tariff-rate quota between 1993 and 2001 increased U.S. beef prices by $1.03 per cwt and yen depreciation between 1995 and 1998 reduced U.S. hog prices by $0.99 per cwt. Relaxing the assumption that U.S. beef and hog supplies are fixed cuts the total elasticities underlying these estimates by 50% or more. The upshot is that shocks in the Japanese market have little effect on U.S. beef and pork prices. Hence, producers may be better off focusing on domestic issues such as dietary concerns over red meat consumption.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 36, Number 01, April 2004
Total Pages: 5
From Page: 251
To Page: 255
Collections: Volume 36, Number 01, April 2004

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