Risk aversion has been considered a factor in mitigating the moral hazard problem in agri-environmental policy. If farmers face multiple sources of uncertainty, however, risk aversion could contribute to the problem. Focusing on a required reduction in the use of a potentially damaging input...

The recent crisis in global financial markets has brought into question reliance on markets to determine the conduct of economic affairs and generated pressure for greater regulation and government control. Neither a neoliberal nor a neoregulatory approach is likely to be able to solve pressing...

The U.S. Renewable Fuel Standard program (RFS), which involves mandates for various biofuels, is complex and has been often misinterpreted or oversimplified in previous studies. In this paper we analyze the implications of the RFS for the U.S. domestic and international ethanol markets. We...

The signing of the Uruguay Round agreement on agriculture (URAA) in 1994 was a significant step towards the liberalization of world agricultural trade. A new round of negotiations on agriculture is scheduled to begin under the auspices of the World Trade Organization (WTO) at the end of 1999....

This document is the technical annex to the full paper "Implicit Tariffs on Imported Dairy Product Components in the United States" which is available separately.