This article demonstrates that when a second product is introduced into the traditional single-product, partial equilibrium model, the predictions of the impact of a tariff on prices are no longer determinate In contrast to the traditional single-product partial equilibrium framework in a...

The traditional model used to analyze trade Issues suggests that an export subsidy on agricultural products IS an irrational policy choice However, export subsidies are common in world agricultural trade By relaxing the assumptions of the traditional model, researchers can develop several...

Recent literature on agricultural policy argues that a new market environment has emerged m the past 15 years characterized by the growing Importance of international trade, a U S agricultural sector increasingly integrated into the U S and world macroeconomy, and an increasing price variability...