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Do Macroeconomic Variables Affect the Agricultural Trade Sector? An Elasticities Analysis
Basic Economics of an Export Bonus Scheme
Risk Aversion in a Dynamic Trading Game
The effect of risk aversion on Nash equilibrium trade restrictions is studied using numerical methods. An increase in a nation’s level of risk aversion can lead to either an increase or decrease in its equilibrium […]
An Econometric Model of the European Economic Community’s Wheat Market
Targeted Agricultural Export Subsidies and Social Welfare
Most agricultural export subsidies are targeted to specific countries. This paper demonstrates that in a standard general equilibrium model of international trade, a small targeted subsidy increase the welfare of the subsidizing country by exploiting […]
Optimum Tariffs in a Distorted Economy: An Application to Agriculture
Optimal distortions for the agricultural sector are calculated taking as given distortions in the nonagricultural sector. The calculations use a general equilibrium model and assume that the sole criterion is economic efficiency. For most agricultural […]
Estimating Gains from Less Distorted Agricultural Trade
A review of recent research suggests that conventional trade models grossly underestimate the country and global gains from trade liberalization. They typically ignore potential sources of gains such as economies of scale; reduced costs of […]