publication . Other literature type . Preprint . 2003

Elasticities for U.S. Wheat Food Use by Class

Marsh, Thomas L.; Marsh, Thomas L.;
English
  • Published: 01 Feb 2003
  • Publisher: Unknown
Abstract
We conceptualize wheat for food use as an input into flour production and derive demand functions to quantify price responsiveness and economic substitutability across wheat classes. Cost, price, and substitution elasticities are estimated for hard red winter, hard red spring, soft red wheat, soft white winter, and durum wheat. In general, hard red winter and spring wheat varieties are much more responsive to their own price than are soft wheat varieties and durum wheat. Morishima elasticities indicate that hard red winter and hard red spring wheat are economic substitutes for milling purposes.
Subjects
Medical Subject Headings: food and beverageshealth care economics and organizations
free text keywords: elasticities, wheat by class, economic substitution, Monte Carlo, Food Consumption/Nutrition/Food Safety, C15, C30, Q11,, Food Consumption/Nutrition/Food Safety, elasticities, wheat by class, economic substitution, Monte Carlo
Related Organizations

Bale, M.D. and Ryan, M. E. 1977, 'Wheat protein premiums and price differentials', American Journal of Agricultural Economics, vol. 59, pp. 530-532. [OpenAIRE]

Barnes, J. N. and Shields, D. A. 1998, 'The growth in U.S. wheat food demand ', Wheat Yearbook, USDA, Economic Research Service, March, pp. 21-29.

Berndt, E. R., and Savin, N. E. 1975, 'Evaluation and hypothesis testing in singular equation systems with autoregressive disturbances', Econometrica, vol. 32, pp. 937-957. [OpenAIRE]

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