AN ECONOMIC ANALYSIS OF STABILIZING SCHEMES

The main purpose of this paper is to analyze the welfare implications of stabilizing consumption and production and to compare it with the already-known welfare implications of stabilizing prices. Two sets of assumptions regarding supply behavior will be considered: (1) supply reacts instantaneously to a change in market prices, (2) producers react to changes in expected prices and expectations are "rational" within the context developed by J.F. Muth.

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Year of publication:	1975
Authors:	Subotnik, Abraham ; Houck, James P.
Institutions:	Department of Applied Economics, College of Agricultural, Food, and Environmental Sciences
Subject:	Institutional and Behavioral Economics

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Extent:	application/pdf
Series:	Staff Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Department of Applied Economics>Staff Papers Number 13643
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005536317