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A proposal for the reduction of domestic price variability during the phase-in period of trade liberalization

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  • Hayes, Dermot J.
  • Wahl, Thomas I.
  • Johnson, S. R.

Abstract

Countries replacing existing trade barriers with a fixed tariff may find that domestic price variability rises to politically unacceptable levels. This paper shows how the tariff-reduction formula can be modified to delay the transmission of world price variability. The importance of this modification is demonstrated by a simple two-country, one-commodity simulation model. The simulation results show that tariffication of existing EC variable levies/export subsidies would dramatically increase price variability within the European Community and that the transmission of this variability can be delayed by slightly altering the adjustment formula.
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  • Hayes, Dermot J. & Wahl, Thomas I. & Johnson, S. R., 1992. "A proposal for the reduction of domestic price variability during the phase-in period of trade liberalization," Agricultural Economics, Blackwell, vol. 7(1), pages 55-64, June.
    • Handle: RePEc:eee:agecon:v:7:y:1992:i:1:p:55-64
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    Cited by:

    1. Possamai, Janaína Poffo & Pescador, Andresa & Mayerle, Sérgio Fernando & Neiva de Figueiredo, João, 2015. "Optimal commodity price stabilization as a multi-period spatial equilibrium problem: A supernetwork approach with public buffer stocks," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 77(C), pages 289-310.

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