Countries such as Canada, which manage domestic supply by regulating both production and imports, have come under pressure in recent years to liberalize their trade policy. This paper examines the effect of import concessions on the distribution of rents in supply-managed industries. Although...

Export credit is shown to be a mechanism that facilitates price discrimination. The scenario considered is one of competitive exporters' selling to a cash importer with a relatively inelastic demand schedule and a credit importer with a relatively elastic demand schedule. The spot markets of the...

Commodity stabilization under a buffer stock and under a buffer fund are compared. In the c ase where a good cannot be physically stored, stability brought about by a buffer fund scheme cannot result in a net welfare improvement f or society. When instability is due only to demand variability,...