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- W1529418867 abstract "In the latter half of the 1980s the U.S. began applying pressure for more liberal trade policies to countries with large trade surpluses with the U.S., and South Korea was one of the prime targets. South Korean beef import restrictions, which are designed to raise domestic prices to support farm incomes, were singled out for attention. However, South Korean beef producers have been violently opposed to any policy change which would lower their incomes. For South Korean policy makers, a highly desirable policy change would be one that could maintain beef producer incomes, provide consumers with cheaper beef by allowing more imports, and not raise government expenditures. South Korean import restrictions on beef are similar to those of Japan, so an exchange of ideas in the American Journal of Agricultural Economics in 1979 and 1983 about the possibility of a Pareto-superior liberalization of Japanese beef imports is of interest. Hayami argued that the Japanese beef quota could be replaced with a deficiency payment set to keep the effective producer price constant. The cost of the deficiency payment could be met with levy revenue from increased imports. The consumer price could be lowered substantially and" @default.
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- W1529418867 date "1991-01-01" @default.
- W1529418867 modified "2023-09-22" @default.
- W1529418867 title "Is a Beef Deficiency Payment Pareto-Superior in South Korea?" @default.
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