Abstract
This paper is a partial equilibrium analysis of an export bonus or export payment-in-kind scheme. With such a scheme, importers (or international traders) would receive bonus units of surplus U.S. farm products with every unit purchased commercially at either international or specifically negotiated prices. Such a program will increase trade volume and deplete excess stocks. Whether or not it generates larger commercial sales and higher export prices is problematical, depending mainly on the price elasticity of net import demand and the extent of retaliation by other trading nations. Some data from recent U.S. sales under a narrowly targeted program of this kind are presented and related loosely to the theoretical analysis.
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