IDEAS home Printed from https://ideas.repec.org/a/ags/ajaeau/22925.html
   My bibliography  Save this article

Combinations Of Buffer-Stocks And Buffer-Funds For Wool Price Stabilisation In Australia

Author

Listed:
  • Moir, Brian
  • Piggott, Roley R.

Abstract

In this paper a preliminary analysis is presented of a combined buffer-fund and buffer-stock as an alternative to a pure buffer-fund or a pure buffer stock for stabilising wool prices. The alternatives analysed are designed so that each provides the same prices to producers as did the Reserve Price Scheme over the period of analysis. Least-cost combinations of policy instruments are derived. The results show that there is considerable potential for cost savings to be made by combining buffer-fund and buffer-stock instruments.

Suggested Citation

  • Moir, Brian & Piggott, Roley R., 1991. "Combinations Of Buffer-Stocks And Buffer-Funds For Wool Price Stabilisation In Australia," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 1-13, April.
  • Handle: RePEc:ags:ajaeau:22925
    DOI: 10.22004/ag.econ.22925
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/22925/files/35010077.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.22925?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Simmons, Phil, 1988. "A Theoretical Discussion Of The Economic Effects Of Buffer Stocks And Buffer Funds," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 32(2-3), pages 1-13, August.
    2. Bob Richardson, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results — A Comment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 63-65, April.
    3. Myers, Robert J. & Piggott, Roley R. & Tomek, William G., 1990. "Estimating Sources Of Fluctuations In The Australian Wool Market: An Application Of Var Methods," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(3), pages 1-21, December.
    4. John C. Quiggin, 1983. "Wool Price Stabilisation And Profit Risk For Wool Users," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 31-43, April.
    5. Richardson, Bob, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results - A Comment," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-3, April.
    6. R. Campbell & B. Gardiner & H. Haszler, 1980. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-15, April.
    7. Foster, Max, 1988. "Modelling the Australian Wool Corporation's Costs and Revenues Under the Reserve Price Scheme for Wool," 1988 Conference (32nd), February 8-11, 1988, Melbourne, Australia 144031, Australian Agricultural and Resource Economics Society.
    8. Mike Hinchy & Brian S. Fisher, 1988. "Benefits from Price Stabilization to Producers and Processors: The Australian Buffer-Stock Scheme for Wool," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 604-615.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Geoff W. Edwards, 1987. "Agricultural Policy Debate: A Survey," The Economic Record, The Economic Society of Australia, vol. 63(2), pages 129-143, June.
    2. John C. Quiggin, 1983. "Wool Price Stabilisation And Profit Risk For Wool Users," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 31-43, April.
    3. Abbott, Malcolm & Merrett, David, 2019. "Counting the cost: the reserve price scheme for wool 1970-2001," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    4. Robert J. Myers & Roley R. Piggott & William G. Tomek, 1990. "Estimating Sources Of Fluctuations In The Australian Wool Market: An Application Of Var Methods," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 34(3), pages 242-262, December.
    5. Fraser, Rob W. & Murrell, A.J., 1990. "The Australian Wool Corporation's Reserve Price Scheme: An Assessment of Price Stabilisation and Producer Benefits," 1990 Conference (34th), February 13-15, 1990, Brisbane, Australia 145082, Australian Agricultural and Resource Economics Society.
    6. Richardson, Bob, 1986. "Some Current Issues In The Marketing Of Agricultural Products," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(2-3), pages 1-14, August.
    7. Hinchy, Mike & Simmons, Phil, 1983. "An Optimal-Control Approach To Stabilising Australian Wool Prices," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 1-29, April.
    8. Edwards, Geoff W. & Freebairn, John W., 1982. "The Social Benefits from an Increase in Productivity in a Part of an Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(02), pages 1-18, August.
    9. Haynes, J.E., 1985. "Rural Assistance Levels: The Influence Of Policies And World Price Changes," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 29(1), pages 1-17, April.
    10. Richardson, Bob, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results - A Comment," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-3, April.
    11. Wenshou Yan, 2016. "Political Economy of Trade and Storage Policies Coordination, and the Role of Domestic Public Storage in the World Market," School of Economics and Public Policy Working Papers 2016-16, University of Adelaide, School of Economics and Public Policy.
    12. Haszler, Henry & Curran, Bill, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results- A Reply," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-6, April.
    13. Waschik, Robert & Fraser, Iain, 2007. "A computable general equilibrium analysis of export taxes in the Australian wool industry," Economic Modelling, Elsevier, vol. 24(4), pages 712-736, July.
    14. Abbott, Malcolm, 2013. "Market support schemes and their interaction: the case of the wool industry," International Journal of Agricultural Sciences and Technology (IJAGST), SvedbergOpen, vol. 52(3), March.
    15. Wu, Xu & Wang, Pei-Yu & Wang, Kun, 2023. "The effect of stabilization fund to rescue stock market based on expected return-capita circulation equation," Socio-Economic Planning Sciences, Elsevier, vol. 87(PB).
    16. Mather, David & Zavale, Hélder & Cunguara, Benedito & Tschirley, David, 2016. "Analysis of Food Commodity Prices in Mozambique before and after the 2007/08 International Food Price Crisis," Miscellaneous Publications 251854, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    17. Mullen, John D. & Alston, Julian M. & Wohlgenant, Michael K., 1989. "The Impact Of Farm And Processing Research On The Australian Wool Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(1), pages 1-16, April.
    18. Morales, Luis Emilio & Balie, Jean & Magrini, Emiliano, 2021. "How has the minimum support price policy of India affected cross-commodity price linkages?," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(2), February.
    19. Villoria, Nelson & Lee, David R., 2002. "The Andean Price Band System: Effects On Prices, Protection And Producer Welfare," 2002 Annual meeting, July 28-31, Long Beach, CA 19751, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Quiggin, John C. & Fisher, Brian S., 1989. "Generalised Utility Theories - Implications for Stabilisation Policy," 1989 Conference (33rd), February 7-9, 1989, Christchurch, New Zealand 144819, Australian Agricultural and Resource Economics Society.

    More about this item

    Keywords

    Demand and Price Analysis;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ajaeau:22925. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.