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Welfare Implications of Price Stabilization with Monopolistic Trade

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  • Chung Ming Wong

Abstract

The welfare effects of domestic and international price stabilization are examined and then compared, employing a two-country model where one country exercises market power through continuous optimal trade restriction while the other behaves competitively. The two types of stabilization have quite different implications on the distribution of welfare between and within countries. The country exercising market power gains from domestic price stabilization regardless of the source of instability, but the government and private producers and consumers are affected differently. The country facing trade restriction can exercise some countervailing power by stabilizing international price fluctuations resulting from internal disturbances.

Suggested Citation

  • Chung Ming Wong, 1989. "Welfare Implications of Price Stabilization with Monopolistic Trade," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(1), pages 43-54.
    • Handle: RePEc:oup:ajagec:v:71:y:1989:i:1:p:43-54.
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    File URL: http://hdl.handle.net/10.2307/1241773
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    Cited by:

    1. Bullock, David S. & Salhofer, Klaus, 2003. "Judging agricultural policies: a survey," Agricultural Economics, Blackwell, vol. 28(3), pages 225-243, May.
    2. David S. Bullock & Klaus Salhofer & Jukka Kola, 1999. "The Normative Analysis of Agricultural Policy: A General Framework and Review," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(3), pages 512-535, September.

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