Corn Laws and Modern Agricultural Trade Policy
1992 (English)Report (Other academic)
I study agricultural trade policy in a small open economy in which farmers and nonfarmers have given political clout and both groups have concave utility. When would prices fluctuate, political equilibrium is for government to stabilize domestic prices. Equilibrium trade policy also protects agents against changes in farm and nonfarm output. In world equilibrium, trade wars occur endogenously. The analysis helps understand historical and current agricultural trade policy. There is evidence, for instance, that policy has stabilized agricultural prices since the late Middle Ages. the analysis also suggests that English corn laws from 1463-1815 could have been Pareto-improving.
Place, publisher, year, edition, pages
Stockholm: IIES , 1992. , 37 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 524
IdentifiersURN: urn:nbn:se:su:diva-41842OAI: oai:DiVA.org:su-41842DiVA: diva2:337943
Published in connection with a visit at the IIES.2010-08-102010-08-102010-08-10