Optimal grain carryovers in open economies:
Knapp, K.C.
Optimal grain carryovers in open economies: a graphical analysis - 1982 - Printed
11 ref
Extract: Optimal storage, trade, and borrowing policies for grain are analyzed graphically using dynamic programming. World prices and domestic harvests are assumed to be stochastic. Optimal carryovers are generally increasing in supply and decreasing in world prices, while net imports are decreasing in both supply and world prices. Optimal levels of carryovers and net imports are influenced by the opportunity to borrow and save foreign exchange. It is shown that grain reserves and foreign exchange borrowing/saving are alternative inventory systems which both complement and substitute for one another
English
0002-9092
Cereals general
83-879675
Optimal grain carryovers in open economies: a graphical analysis - 1982 - Printed
11 ref
Extract: Optimal storage, trade, and borrowing policies for grain are analyzed graphically using dynamic programming. World prices and domestic harvests are assumed to be stochastic. Optimal carryovers are generally increasing in supply and decreasing in world prices, while net imports are decreasing in both supply and world prices. Optimal levels of carryovers and net imports are influenced by the opportunity to borrow and save foreign exchange. It is shown that grain reserves and foreign exchange borrowing/saving are alternative inventory systems which both complement and substitute for one another
English
0002-9092
Cereals general
83-879675