Price Bands and Buffer Funds

John Quiggin and Jock Anderson ()

The Economic Record, 1981, vol. 57, issue 1, 67-73

Abstract: Price‐band stabilization schemes are widely used although they have generally been regarded as second‐best options. In this paper, it is shown that a class of control problems with plausible social welfare functions yields price‐band stabilization as the optimal solution. Thus the proponents of price‐band schemes need not be regarded as satisficers.

Date: 1981
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