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Efficiency of Income Redistribution through Agricultural Policy

by Klaus Salhofer | 01 October 1997
PAPERBACK
Category: Industry Finance
Since government can use manifold policy instruments at various levels, which influence various social groups, the evaluation of the efficiency of income redistribution is not straight forward. The study in hand contributes to the literature by first applying a multimarket framework to recent theoretical developments in transfer efficiency analysis. A three-stage vertically-structured model including the bread grains market as well as agricultural input industries and the food processing industry is developed and econometrically estimated. This model and standard welfare measures are used to judge the Austrian agricultural policy. It is revealed that in addition to farmers, downstream and upstream industries benefit considerably from agricultural policy. Using nonlinear optimization procedures, it is shown that the applied policy is not Pareto efficient. Applying an optimal policy instead of the current one could Pareto improve the social state by 1.7 billion Austrian Shilling.
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Since government can use manifold policy instruments at various levels, which influence various social groups, the evaluation of the efficiency of income redistribution is not straight forward. The study in hand contributes to the literature by first applying a multimarket framework to recent theoretical developments in transfer efficiency analysis. A three-stage vertically-structured model including the bread grains market as well as agricultural input industries and the food processing industry is developed and econometrically estimated. This model and standard welfare measures are used to judge the Austrian agricultural policy. It is revealed that in addition to farmers, downstream and upstream industries benefit considerably from agricultural policy. Using nonlinear optimization procedures, it is shown that the applied policy is not Pareto efficient. Applying an optimal policy instead of the current one could Pareto improve the social state by 1.7 billion Austrian Shilling.
Currently out of stock
Delivery 5-7 Days
Eligible for free delivery
168 Reward Points

Any purchases for more than €10 are eligible for free delivery anywhere in the UK or Ireland!

€56.00
Currently out of stock
Delivery 5-7 Days
Eligible for free delivery
168 Reward Points

Any purchases for more than €10 are eligible for free delivery anywhere in the UK or Ireland!

Product Description

Since government can use manifold policy instruments at various levels, which influence various social groups, the evaluation of the efficiency of income redistribution is not straight forward. The study in hand contributes to the literature by first applying a multimarket framework to recent theoretical developments in transfer efficiency analysis. A three-stage vertically-structured model including the bread grains market as well as agricultural input industries and the food processing industry is developed and econometrically estimated. This model and standard welfare measures are used to judge the Austrian agricultural policy. It is revealed that in addition to farmers, downstream and upstream industries benefit considerably from agricultural policy. Using nonlinear optimization procedures, it is shown that the applied policy is not Pareto efficient. Applying an optimal policy instead of the current one could Pareto improve the social state by 1.7 billion Austrian Shilling.

Product Details

Efficiency of Income Redistribution through Agricultural Policy

ISBN9783631317693

FormatPAPERBACK

Publisher (01 October. 1997)

No. of Pages164

Weight250

Language English (United States)

Dimensions 210 x 148