Measure of Waste Due to Quotas

dc.contributor.author Fulginiti, Lilyan
dc.contributor.author Perrin, Richard
dc.contributor.department Center for Agricultural and Rural Development
dc.date 2018-02-17T14:35:59.000
dc.date.accessioned 2020-06-30T04:00:24Z
dc.date.available 2020-06-30T04:00:24Z
dc.date.copyright Sat Jan 01 00:00:00 UTC 1994
dc.date.embargo 2016-03-16
dc.date.issued 1994-03-01
dc.description.abstract <p>This paper addresses the issue of measuring welfare losses due to imposition of a production quota. The topic of welfare measurement is important in agriculture because production quotas are a ubiquitous component of agricultural policy. While it is probably true that in the arena of policy decisions the somewhat subtle distinctions of alternative measures of loss with usually be swamped by errors in measuring them, it is important nonetheless that economists, at least, be clear about which concepts are being measured and why. Our objective is to elaborate briefly two alternative general equilibrium concepts (Diewert) of the welfare loss due to the imposition of a production quota, and to illustrate their use by considering the costs of the U.S. tobacco program. In addition to the two concepts elaborated here, other alternatives might be considered, and there is good reason to evaluate them for an open economy, rather than the closed economy model used here. Space considerations dictate that these alternatives be considered in another paper.</p>
dc.identifier archive/lib.dr.iastate.edu/gatt_papers/22/
dc.identifier.articleid 1015
dc.identifier.contextkey 8327350
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath gatt_papers/22
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/37669
dc.source.bitstream archive/lib.dr.iastate.edu/gatt_papers/22/94gatt14.pdf|||Fri Jan 14 22:40:55 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agriculture
dc.subject.disciplines Economic Policy
dc.subject.keywords Agriculture
dc.subject.keywords Policy
dc.title Measure of Waste Due to Quotas
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isOrgUnitOfPublication 1a6be5f1-4f64-4e48-bb66-03bbcc25c76d
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