The EEC's wheat price policies and international trade in differentiated products

Several features of the EC wheat market are analyzed including the imperfect substitutability between imports and domestic supplies, the simultaneous import and export of wheat, and the distinct impact of threshold versus intervention policy prices. In theory, the impact of EC price policies on whea...

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Veröffentlicht in:American journal of agricultural economics 1987-05, Vol.69 (2), p.223-229
Hauptverfasser: Gorter, H. de, Meilke, K.D
Format: Artikel
Sprache:eng
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Zusammenfassung:Several features of the EC wheat market are analyzed including the imperfect substitutability between imports and domestic supplies, the simultaneous import and export of wheat, and the distinct impact of threshold versus intervention policy prices. In theory, the impact of EC price policies on wheat consumption and net trade are found to be indeterminate a priori. Empirical results show that intervention prices have a positive impact on EC net exports, while increases in threshold (import) prices have decreased EC net wheat exports. Competing wheat exporters would prefer the EC to lower the intervention price to world levels but maintain threshold prices.
ISSN:0002-9092
1467-8276
DOI:10.2307/1242272