POLICY RISK: AN EMPIRICAL ANALYSIS OF A MARKET FOR A GOVERNMENT-CREATED ASSET

Daniel Sumner and Norbert Wilson ()

No 20925, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper investigates the California dairy quota. The quota rate of return has been relatively high. The variability of returns is high relative to government bonds but not relative to the S&P500. Most of the returns are from monthly dividends, but most of the variability is from the capital gains.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Pages: 18
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea98:20925

DOI: 10.22004/ag.econ.20925

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