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The Incidence of Benefits from U.S. Soybean Productivity Gains in a Context of World Trade
Author(s) -
Cooke Stephen C.,
Sundquist W. Burt
Publication year - 1993
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242965
Subject(s) - productivity , rest (music) , agricultural economics , total factor productivity , context (archaeology) , economics , production (economics) , agricultural science , international trade , geography , economic growth , biology , medicine , archaeology , cardiology , macroeconomics
Abstract A new procedure for measuring the “K‐shift” in the supply function from new technology is introduced. This procedure is used to show that U.S. soybean total factor productivity increased by 1.6% per year between 1974 and 1983. Brazilian and Argentine soybean productivity increased 2.4% per year during this period. Total economic surplus in the U.S and the rest of the world increased between $@@‐@@1.7 and $@@‐@@3.2 billion. Of this total, U.S. resource owners received between $@@‐@@1.3 and $@@‐@@1.5 billion and U.S. consumers received between a $@@‐@@0.1 and $@@‐@@0.2 billion increase in income from increased soybean productivity.