Selected Papers

TL;DR: The price elasticity of export demand for U.S. agricultural products is generally inelastic, but there is no conclusive evidence on the long-run.

Abstract: "The Price Elasticity of Export Demand for U.S. Agricultural Products: Methods and Estimates." Walter H. Gardiner and Praveen M. Dixit, USDA. The paper reviews recent estimates of the price elasticity of export demand for selected U.S. agricultural goods. The evidence indicates that the price elasticity of export demand for U.S. grains, soybeans, and cotton is inelastic. No such conclusive evidence is apparent for the long-run. Long-run estimates ranged from very inelastic to very elastic.