FAPRI U.S. Agricultural Sector Elasticities Volume I: Crops
William H. Meyers, Patrick C. Westhoff, Deborah L. Stephens, Brian L. Buhr, Michael D. Helmar, Kyle J. Stephens
January 1993 [93-TR 25]
This report presents estimates of supply, demand, and price transmission elasticities for the U.S. crops sector. The estimates are derived from the U.S. crops model maintained by the Food and Agricultural Policy Research Institute (FAPRI) and are prepared in accordance with procedures stipulated by the Organization for Economic Cooperation and Development (OECD). The first section of this report provides a general overview and describes the procedures used to perform the elasticity calculations. Each succeeding section provides general information about the elasticity estimates for a particular activity. Specific attention is given to those results that may not be intuitively clear and, in particular, to the elasticities that depend on the interaction of two or more equations in the FAPRI modeling system.
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