Market Stabilization and the Reform of the Common Agricultural Policy
I solve numerically for stationary rational-expectations equilibria of a two-country, non-linear model of a storable commodity. With constant tariffs, price volatilities in both countries increase with an increase in the tariff rate of one country or with an increase in the storage cost in one country. When one country (`the EC') uses a variable import levy and export subsidy to defend a fixed price floor, increases in the floor (a) increase mean price and decrease price volatility in the EC and (b) decrease mean price, increase volatility and increase private stockholding in the rest of the world. The volatility of farm incomes in the EC are relatively insensitive to increases in the floor.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
|Date of creation:||Nov 1992|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:740. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()The email address of this maintainer does not seem to be valid anymore. Please ask to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.