Overview

This book contains both a theoretical analysis of (supply)price stabilization on world agricultural markets and aneconometric investigationof recent sugar market policies. The theoretical part explicitly considers the effects ofprotected domestic markets: It shows price stabilization tobe generally desirable and provides a proof for thenon-existence of rational expectations equilibria on theworld market in a model with inelastic excess supply. Theempirical analysis assesses the effects of the InternationalSugar Agreements of 1968 and 1977. Quota-mechanisms intendedto limit sugar exports are found to have raised the averageworld market price. A reduction in the price's variance, however, is not conceivable. In general, quota agreementsseemto be an inapppropriate instrument of pricestabilization, as they lack a stable equilibriuminterpretation. The method of analysis is time serieseconometrics with particular attention on unit root andcointegration issues. Tests for structural change emplopyedin orderto single out possible effects of the InternationalSugar Agreements.

Full Product Details

Author:   Bernd Lucke
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Edition:   Softcover reprint of the original 1st ed. 1992
Volume:   393
Dimensions:   Width: 17.00cm , Height: 1.50cm , Length: 24.40cm
Weight:   0.508kg
ISBN:  

9783540560999

ISBN 10:   3540560998
Pages:   274
Publication Date:   17 December 1992
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of stock  
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