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...

Agricultural marketing and distribution are broad areas that cover a wide assortment of pricing and market structure issues for agricultural commodities and processed food products. A synthesizing framework is developed in order to discuss the relevant Handbook chapters and an assortment of...

Countries such as Canada, which manage domestic supply by regulating both production and imports, have come under pressure in recent years to liberalize their trade policy. This paper examines the effect of import concessions on the distribution of rents in supply-managed industries. Although...

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 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...