Dairy product markets have been burdened with excess supplies since late 1979. The principal cause of these surpluses is overly high government price supports. This situation can be traced to a series of policy decisions made in the mid-1970s. The evolution of dairy policy during the last 10...

The difficulty of reliably and accurately incorporating tariffrate quotas (TRQs) into trade models has received a lot of attention in recent years. As a result of the Uruguay Round of GATT negotiations, TRQs replaced an assortment of tariff and nontariff instruments in an effort to standardise...