The U.S. demand for food and other final goods: an analysis using the indirect utility function

Date

1985-12

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Publisher

Texas Tech University

Abstract

The primary objective of this study is to identify the sensitivity of the domestic demand for food to changes in real interest rates. The real short-term treasury bill rate increased 314-percent from 1979 to 1984. During this same time period, financial conditions in agriculture declined significantly and some (Hughes and Penson, 1984) attribute this decline to increasing levels of the federal budget deficit and increasing interest rates. This study, therefore, examines the effects of increasing interest rates on the domestic demand for food.

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