The paper examines, via simulation analysis the stabilizing effects of buffer stocks under different forms of supply functions, where each specification of the supply function represents a different expectational form about future prices. The analysis is carried out under different assumptions...

Moral hazard, a mostly inevitable byproduct of all insurance programmes, creates special difficulties in crop insurance programmes. In this study of drought compensation programmes in Israel's Northern Negev, moral hazard was reflected mostly by the transition from the least extensive crop...

This paper develops an analytical framework for evaluating the policy of variable levies and assessing its effects on the country's trade, welfare, income distribution, b alance of payments, and fiscal budget. The analysis indicates that th e instability in domestic supply and world prices may...