Rethinking Grain Price Stabilization: The Philippine Case

James Roumasset

No 199322, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: The welfare effects of grain price stabilization depend on the stabilization instrument and the source of instability. If the source is international market price instability, then even an omniscient (perfect forecasting) and omnipotent (zero storage costs) government cannot increase welfare by price stabilization. Stabilization agencies should be downsized and converted to market integration and competitiveness enhancing agencies. In this way, international prices stabilize against domestic disturbances, and the remaining instability is welfare increasing.

Pages: 23 pages
Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.economics.hawaii.edu/research/workingpapers/88-98/WP_93-22.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hai:wpaper:199322

Ordering information: This working paper can be ordered from
http://www.economics ... esearch/working.html

Access Statistics for this paper

More papers in Working Papers from University of Hawaii at Manoa, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Web Technician ().