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- Publisher
- Wiley
- Copyright
- Copyright © 1979 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1364-985X
- eISSN
- 1467-8489
- DOI
- 10.1111/j.1467-8489.1979.tb00230.x
- Publisher site
- See Article on Publisher Site
Abstract
Airstralian Journal of Agricultural Economics, Vol. 23, No. 1 (April 1979). p~. 67-68. THE ELASTICITY OF DEMAND FOR EXPORTS: A REPLY C. D. THROSBY and D. J. S. RUTLEDGE Mucquarie University We welcome the comments of Scobie and Johnson (hereafter S-J) on demand elasticities for Australian farm exports, although we feel that, in their zeal to press their case for high elasticities, they have read more into our paper than is actually there. At issue is our specification of a joint price/quantity system in the external sector of our model, Our equations (8) to (10) hypothesise that export prices for each of the farm commodity groups we studied are a function, in part, of Australian exports of those commodities. Ye rationalised inclusion of this variable and these equations on the grounds that Australia might exercise ‘significant market power’ with respect to some of the products involved. In fact ‘significant’ rather overstates the case here; we would argue that sufficient justification for inclusion of equations (8) to (10) in a model like this is simpIy that the world demand elasticity for Australian exports of the product groups in question might be less than infinite, not that it necessarily has to
Journal
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Apr 1, 1979