|
" Price Stabilization on World Agricultural Markets : "
by Bernd Lucke.
| Document Type
|
:
|
BL
|
| Record Number
|
:
|
746551
|
| Doc. No
|
:
|
b566501
|
| Main Entry
|
:
|
by Bernd Lucke.
|
| Title & Author
|
:
|
Price Stabilization on World Agricultural Markets : : an Application to the World Market for Sugar\ by Bernd Lucke.
|
| Publication Statement
|
:
|
Berlin, Heidelberg : Springer Berlin Heidelberg, 1992
|
| Series Statement
|
:
|
Lecture notes in economics and mathematical systems, 393.
|
| Page. NO
|
:
|
(xi, 274 pages)
|
| ISBN
|
:
|
3642467822
|
|
|
:
|
: 9783642467820
|
| Contents
|
:
|
I: Price Stabilization on World Markets for Agricultural Products --; 1: On the Desirability of Price Stabilization --; 2: Non --; Existence of Rational Expectations Equilibria --; 3: Price Dynamics in a Linear World --; II: Price Formation on the World Sugar Market --; 4: Characteristics of the Market --; 5: Quantitative Analysis of the World Sugar Market --; III: Price Stabilization on the World Sugar Market --; 6: The International Sugar Agreements --; 7: Structural Change on the World Sugar Market --; 8: Quantifying the Effects of the International Sugar Agreements --; Conclusions --; Appendix: Regression Diagnostics --; Al: Testing Procedures --; A1.1 Testing for Normality --; A1.2 Testing for Serial Independence --; A1.3 Testing for Heteroskedasticity --; A1.4 Testing for Non --; Linearities --; A1.5 Testing for Structural Change --; A2: Regression Statistics and P --; Values --; List of Abbreviations --; References.
|
| Abstract
|
:
|
This book contains both a theoretical analysis of (supply) price stabilization on world agricultural markets and an econometric investigationof recent sugar market policies. The theoretical part explicitly considers the effects of protected domestic markets: It shows price stabilization to be generally desirable and provides a proof for the non-existence of rational expectations equilibria on the world market in a model with inelastic excess supply. The empirical analysis assesses the effects of the International Sugar Agreements of 1968 and 1977. Quota-mechanisms intended to limit sugar exports are found to have raised the average world market price. A reduction in the price's variance, however, is not conceivable. In general, quota agreements seemto be an inapppropriate instrument of price stabilization, as they lack a stable equilibrium interpretation. The method of analysis is time series econometrics with particular attention on unit root and cointegration issues. Tests for structural change emplopyed in orderto single out possible effects of the International Sugar Agreements.
|
| Subject
|
:
|
Economics.
|
| Subject
|
:
|
Environmental economics.
|
| LC Classification
|
:
|
HD9100.4B934 1992
|
| Added Entry
|
:
|
Bernd Lucke
|
| |