Devaluation, Foreign Trade Controls, and Domestic Wheat Prices

Thomas Grennes · Marie Thursby

81 citations0/0 files storedAmerican Journal of Agricultural Economics

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Economics of Agriculture and Food Markets Agricultural economics and policies Market Dynamics and Volatility

Abstract

Abstract The 1970s have seen sharp fluctuations in grain prices. Several plausible explanations for the unusual severity of these ups and downs have been advanced, including devaluation of the dollar for the upswing in 1972–74. U.S. wheat prices for the year of highest prices, 1973–74,are examined. A trade model that distinguishes wheat by country of origin is used to analyze various events in that year. It is concluded that insulating trade policies by wheat exporters and importers had the largest impact on U.S. wheat prices.

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1957Some Evidence on the International Price Mechanism

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2011Exchange rate volatility and bilateral agricultural trade flows: the case of the United States and OECD countries 1990AN ECONOMIC ANALYSIS OF THE IMPACTS OF MONETARY POLICY ON SOUTH AFRICAN AGRICULTURE 2015Effects of Recession and Dollar Weakening on the U.S. Agricultural Trade Balance

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