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Abstract

Since 1952, several technical bulletins' that deal with the demand and price structure for grains have been published by the United States Department of Agriculture. Research results from three of these bulletins can be used in an integrated way to consider possible effects of alternative governmental price-support policies for wheat and corn. This article discusses the ways in which such analyses can be made, with emphasis on the effects of alternative assumptions on the conclusions reached. It demonstrates the power of the modern structural approach for studies of this sort. Results obtained and conclusions reached in this article come directly from the application of certain systems of economic relationships based on specified assumptions. Although it is believed that these results and conclusions throw light on the alternative policies analyzed, they in no sense represent official findings of the United States Department of Agriculture. They are presented primarily to illustrate the kinds of analyses that can be made from an approach of this sort.

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