Improved (ERTS) information and its impact on U.S. markets for agricultural commodities: A quantitiative economic investigation of production, distribution and net export effects
An econometric investigation into the markets for agricultural commodities is summarized. An overview of the effort including the objectives, scope, and architecture of the analysis and the estimation strategy employed is presented. The major empirical results and policy conclusions are set forth. These results and conclusions focus on the economic importance of improved crop forecasts, U.S. exports, and government policy operations. A number of promising avenues of further investigation are suggested.