In a recent paper (Rausser, forthcoming 1992), Vercammen and Schmitz analyzed the relationship between efficiency of farm programs and their trade-distorting effects. They found that, in general, the more efficient a farm program, the lesser the trade-distorting impact. Exploration of the final...

In a recent paper (Rausser, forthcoming 1992), Vercammen and Schmitz analyzed the relationship between efficiency of farm programs and their trade-distorting effects. They found that, in general, the more efficient a farm program, the lesser the trade-distorting impact. Exploration of the final...

Government intervention in product and factor markets generally leads to trade distortions. Conventional measures of government intervention, such as the Producer Subsidy Equivalent and the Nominal Rate of Protection, are often used to compare the effects of alternative policies on trade. This...

Japan is the world's largest importer of agricultural products. Even so, agricultural imports in Japan are more restricted than any other OECD country. Many of the instruments used by the Japanese to protect the agricultural sector fall under the general heading of quantitative restrictions;...

The purpose of the paper is to theoretically examine the welfare implications of public sector involvement in agricultural biotechnology R&D. The model assumes that firms (either a private duopoly consisting of a pair of for-profit firms or a mixed duopoly consisting of one for-profit firm and...

The relationship between price uncertainty and specific investment is examined in a dynamic model that integrates the theories of real options and investment holdup. Because of weak contract enforcement, bilateral firms cannot use a contract to govern their bilateral investment and exchange...

The relationship between price uncertainty and specific investment is examined in a dynamic model that integrates the theories of real options and investment holdup. Because of weak contract enforcement, bilateral firms cannot use a contract to govern their bilateral investment and exchange...

A tax on fuel is one of the primary mechanisms for reducing truck transport externalities such as greenhouse gas emissions, road damage, congestion, and accidents. The economic efficiency properties of a fuel tax are examined for the farm-to-elevator grain trucking sector--a sector for which the...