摘要:

AbstractThe present paper analyses the political economy of agricultural protection in a general equilibrium framework. Rational politicians offer protectionist policies in return for political support from their constituency. Individuals in the economy have different factor endowments. Politicians exploit these differences in establishing redistributive policies when maximizing political support. Changes in economic variables—such as the urban‐rural income gap, capital intensity, the share of agriculture in total output and total employment, and the share of food in consumer expenditures—affect the political equilibrium policy. The analysis concludes that the observed correlation between economic development and agricultural protection is caused by a multiplicity of factors.

ISSN:0002-9092    

DOI:10.2307/1243915

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractA bargaining model of EC agricultural policy formation is formulated. The model allows for more explicit consideration of political factors than is possible in standard political economy models. It shows how the political system in Germany has increased the power of German farm interests relative to farm interests elsewhere in the EC. The paper recognizes CAP negotiations are an on‐going process. Results of the previous bargaining round form the basis for the current round and give momentum to price changes. Understanding this momentum provides insight into the fluctuating price supports that have characterized the CAP.

ISSN:0002-9092    

DOI:10.2307/1243916

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractWe present a new approach for evaluating the welfare consequences of technical change. A major feature is its ability to incorporate multiple distortions and multiple sources of technical change in interrelated markets. A modified balance‐of‐trade function provides money measures of welfare change in terms of producer profits, consumer expenditures, and tax revenues. Alternative specifications of technical change are presented to capture the effects of differences in the form of technical change. In an illustrative numerical example, the approach is applied to a case involving two distortions and technical changes in two related markets. The example shows that the approach is reasonably easy to use and that accounting correctly for price distortions can have important implications for research benefit measures.

ISSN:0002-9092    

DOI:10.2307/1243917

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractThe value of weed scouting information for soil‐applied and post‐emergence weed management is estimated using a dynamic, whole‐farm, stochastic simulation model. The model simulates outcomes of four expected utility functions from management strategies using three levels of weed information. Results from a representative Minnesota corn and soybean farm indicate high value of weed seedling counts (for post‐emergence control) but relatively low value of weed seed counts (for soil‐applied control). While herbicide use is often reduced under information based management, this is not always the case.

ISSN:0002-9092    

DOI:10.2307/1243918

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractPrevious analysis shows that, under autarky, all groups must lose from minimum quality standards with symmetric information. We find that, with international trade, it is possible for one country to gain by introducing minimum quality standards. However, it is not possible for both countries to gain from the standards. This result implies that minimum‐quality standards are nontariff trade barriers using the Walter and Baldwin criteria.

ISSN:0002-9092    

DOI:10.2307/1243919

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractWe present a model with two exporters who ship a differentiated commodity to the same import destination. All pricing occurs in a common currency, that of the home exporter. We show that the foreign‐exporter to home‐exporter exchange rate can influence the home exporter's pricing decision. It has been previously argued that only the importer to home‐exporter exchange rate matters to the home exporter.

ISSN:0002-9092    

DOI:10.2307/1243920

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractWe derive a general elasticity representation of the necessary and sufficient conditions for direct weak separability of the utility function. Parametric restrictions required to implement the separability conditions are presented for three common demand systems: the Almost Ideal, Translog, and Rotterdam. Our empirical application uses the Rotterdam model to test a few separable structures within a complete U.S. demand system emphasizing food commodities. Results, based on size‐corrected likelihood ratio tests, provide support for commonly used separability assumptions about food and meat demand.

ISSN:0002-9092    

DOI:10.2307/1243921

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractWe formulate an econometric model of fluid milk expenditures, taking into account two important characteristics: expenditures may be censored at zero and may be interdependent across milk type. Censoring of fluid milk expenditures is addressed with a generalized Tobit system estimator. Interdependence of milk expenditures is examined through a likelihood function with no restrictions on elements of the Engel curve error covariance matrix. Expenditure function parameters are estimated using a March 1991 to March 1992 U.S. consumer panel.

ISSN:0002-9092    

DOI:10.2307/1243922

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractA monthly model is presented of the U.S. softwood lumber sector. Price expectations and beginning‐period inventories have important roles in producers' production, sales, and inventory decisions. Cross‐price effects among domestic producing regions are minimal. However, there is substantial competition between U.S. and Canadian producers. Our model produces supply elasticities, demand elasticities, and inventory response parameters that are different from and more comprehensive than those obtained in previous work.

ISSN:0002-9092    

DOI:10.2307/1243923

出版商:Oxford University Press    

年代:1994

数据来源: WILEY

摘要:

AbstractDecision making under unknown true parameters (estimation risk) is discussed along with Bayes' and parameter certainty equivalent (PCE) criteria. Bayes' criterion incorporates estimation risk in a manner consistent with expected utility maximization. The PCE method, which is the most commonly used, is not consistent with expected utility maximization. Bayes' criterion is employed to solve for the minimum‐variance hedge ratio. Empirical application of Bayes' minimum‐variance hedge ratio is addressed and illustrated. Simulations show that discrepancies between prior and sample parameters may lead to substantial differences between Bayesian and PCE minimum‐variance hedges.

ISSN:0002-9092    

DOI:10.2307/1243924

出版商:Oxford University Press    

年代:1994

数据来源: WILEY