Consequences of discretion in the formation of commodities policy

Article Abstract:

The reciprocal influences of private inventories and speculative activity on price-support policies cause volatility in the commodity markets. In an internal price-support policy for primary commodities, the policy is primarily influenced by private inventories. These private inventories are in turn influenced by speculative activity to predict policy. When a government attempts to stabilize the price but fails to pursue future action, the government is deemed inutile. On the other hand, speculative activity may force a government without a price-support policy to adapt one.

Price Levels, Commodity Agreements, Agricultural policy, Commodities, Commodity price indexes

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Technological linkages, market structure, and production policies

Article Abstract:

An evaluation of industrial policies linked to the manufacturing of intermediate goods underscores the need for subsidy policies to be adopted based on other considerations rather than purely technological reasons. Policy design should incorporate both technological associations and market impact in the target industries. The interaction of external effects and market structure may result in an optimal policy incorporating lump-sum subsidies, output subsidies and taxes on the target industries.

Business Aid Programs, Evaluation, Industrial policy, Business assistance, Technology and state, Technology policy

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Incomplete contracting and price regulation

Article Abstract:

The efficacy of price regulatory mechanisms in a monopolistic distribution structure is examined. In a monopolistic grid where licenses are sold to retailers, analysis shows that the best price regulation mechanism is the one which allows the seller to grant the license while allowing the buyer to make counteroffers. This sequential mechanism, which runs counter to the conventional price-cap idea, is demonstrated to be the best way to ensure fair pricing in a privatized utility scenario.

Price & Wage Controls, Research, Public utilities, Privatization, Privatization (Business), Price control, Price regulations, Monopolistic competition

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