We examine two important aspects of Australia’s terms of trade using 135 years of annual data up to 2003/04. Since Australia predominantly exports commodities and imports manufactures, the Prebisch-Singer hypothesis suggests that there should be a negative trend in the terms of trade. But the trend is no more than −0.1 per cent per annum, less than the trend decline in world commodity prices re...

Consequences of the WTO ruling on the Brazilian cotton case for commodities in the U.S. in addition to cotton are of concern. This paper uses the global GTAP model to provide a preliminary assessment of the consequences for U.S. rice if the ruling had applied in 2001. Two scenarios are estimated with a 36% and 100% elimination in the PSE on U.S. rice in 2001. The results show that if loan defic...

Abstract In 2019, Ireland was the third-largest exporter of butter in world market but Irish prices have been more volatile compared to other dairy products. Yet, empirical research that examines price dynamics and international competitor behavior remains scarce. The Vector Error Correction Model applied data from 1970–2019, test extent which changes farm milk had an impact on prices. results ...

The article describes the peculiarities of pricing cocoa industry, world experience state management export supplies beans that affect international trade in raw materials. factors influencing exchange large volumes were identified. An integrated price model based on economic relationships market has been developed.