The vagaries of nature and of world grain markets, causing domestic food production and food import prices to fluctuate, are commonly considered the major external sources of food insecurity in developing countries. The need for steady domestic food production, and for stable world grain prices...

The purpose of this essay is to investigate the possible economic consequences of the recent German steel subsidy program and assess to what extent those consequences conform with the objectives which motivated that program's adoption. The paper is organized as follows: Particular developments...

First World politicians ascribe an exceptionally high social value to the well-being of domestic farmers, apparently without being penalized by political setbacks. In the European Community (EC) , they fix domestic prices on most agricultural commodities above world market prices, sustain these...

The costs and benefits of export diversification in an old non-oil commodity exporting country are the subject matter of the following analysis. In chapter 2 the causal nexus from commodity price fluctuations to domestic disturbances is developed from well-established macro- and microeconomic...

In this paper a general equilibrium model of Chile will be applied to quantify (a) the requirements for real exchange rate stabilization in a commodity exporting country, (b) the implications of nominal exchange rate and price level stabilization, and (c) short-run benefits and long-run costs of...

In this paper we present a structural policy model of the comparative- static general equilibrium type. Our model for the Federal Republic of Germany closely resembles the Australian ORANI model (Dixon et al., 1982) which in turn has its origin in Johansen's pioneering work for Norway (Johansen,...