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The Incidence of Market-Stabilising Price Support Schemes

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  • Wright, Brian D
  • Williams, Jeffrey C

Abstract

The introduction of a stabilization scheme can raise or lower the wealth of initial owners of land and commodity stocks substantially, even if the are risk neutral. The incidence consists of the capitaliz ed value of the revenue changes along the path to the new stochastic steady state. By ignoring the dynamic path, traditional comparative statics understates the benefits to initial asset holders. Because of differences in dynamic paths, destruction of the commodity can have a lower marginal deadweight loss than a public bu ffer stock, and deficiency payments can be especially attractive when the variability is exogenous to the domestic market. Copyright 1988 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 98 (1988)
Issue (Month): 393 (December)
Pages: 1183-98

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Handle: RePEc:ecj:econjl:v:98:y:1988:i:393:p:1183-98

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Cited by:
  1. Christophe Gouel, 2011. "Instabilité des prix agricoles et politiques optimales de stabilisation," Working Papers 246504, Institut National de la Recherche Agronomique, France.
  2. Femenia, Fabienne, 2011. "To Subsidize or Not to Subsidize Private Storage? Evaluation of the Effects of Private Storage Subsidies as an Instrument to Stabilize Agricultural Markets After CAP Reforms," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114360, European Association of Agricultural Economists.
  3. Fertő, Imre, 1995. "A mezőgazdasági árak stabilizálásának problémáiról
    [On the problems of stabilizing agricultural prices]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 256-269.
  4. Donald F. Larson & Julian Lampietti & Christophe Gouel & Carlo Cafiero & John Roberts, 2014. "Food security and storage in the Middle East and North Africa," Working Papers 253354, Institut National de la Recherche Agronomique, France.

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