TY  - JA
AU  - Knapp,K.C.
TI  - Optimal grain carryovers in open economies:  a graphical analysis
SN  - 0002-9092
U1  - 83-879675 
PY  - 1982///
KW  - Cereals general
N1  - 11 ref
N2  - 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
T2  - American Journal of Agricultural Economics
ER  -