The social cost of rent seeking under countervailing opposition to distortionary transfers

Article Abstract:

The economic theory of rent is analyzed with regard to the existence of consumer resistance and the effect of such a situation on the welfare of consumers. It is suggested that the expenditures involved in the opposition activity are higher than the aggregate expenditures of rent seekers. The presence of only one rent seeker or beneficiary of such rent negates the goals of resistance, that is, no welfare enhancement occurs.

Models, Economic rent

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Price uncertainty and trader-farmer linkage

Article Abstract:

The practice of payment-in-kind for agricultural loans in the Philippines is analyzed. Specifically, the advantages of preference of payment-in-kind allowing an arrangement for cash payments for loans is examined. It was found that the preference for payment-in-kind is determined by the risk aversion characteristics of the farmer. The payment-in-kind scheme offers protection for the produce in a futures market manner.

Evaluation, Agricultural credit, Contracts, Agricultural, Agricultural contracts, Payment-in-kind program

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Trade deflection, trade distortions, and Pareto inefficiencies under the restricted origin principle

Article Abstract:

Trade deflection is analyzed and shown to be important in resource allocation. A model is presented that does not limit restrictions in trade flows allowing for trade deflection. Two models are shown to be inappropriate in the issue of value-added tax (VAT) calculation. The conclusions derived from the study are applicable to most taxes concerning economic activites except the VAT calculated on the basis of credit.

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