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© 1995 Oxford University Press and the Foundation for the European Review of Agricultural Economics

research-article

Do price stabilisation schemes contribute to stability? Some counter-factual evidence from the Canadian barley market*

ROBERT MATHESON, J. STEPHEN CLARK and K. K. KLEIN

Agriculture Canada, Ottawa, Ontario
Nova Scotia Agricultural College Dept. of Economics and Business Management P.O. Box 550Truro, Nova Scotia, Canada B2N 5E3
Department of Economics, The University of Lethbridge

Received July 1, 1994;

Summary

The impact of price stabilisation schemes on producer expectations has generally been ignored by policy makers. Using a theoretical model of the Canadian prairie barley market, unconditional mean price and two-year moving-average price stabilisation schemes are compared with no stabilisation, assuming rational expectations. Both price convergence and variance were affected by the choice of the price stabilisation scheme. This illustrates the influence price stabilisation schemes can have on the stochastic process generating market prices

Keywords: stabilisation scheme, rational expections, barley


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