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• W2131101883 abstract "This article compares various policies in a rational expectations food storage model with risk‐averse consumers and missing insurance markets calibrated to represent a developing country. I consider an optimal storage policy under discretion and two optimal simple rules: a constant private storage subsidy and a price band. The storage subsidy achieves welfare gains similar to the discretionary policy. The price band maximizing social welfare is a price‐peg scheme: The floor and ceiling prices are the same, and the capacity constraint represents 11% of the steady‐state production level. This price band achieves three‐quarters of the gains from the optimal policy under discretion." @default.
• W2131101883 created "2016-06-24" @default.
• W2131101883 creator A5016689061 @default.
• W2131101883 date "2013-05-15" @default.
• W2131101883 modified "2023-09-23" @default.
• W2131101883 title "Rules versus Discretion in Food Storage Policies" @default.
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• W2131101883 doi "https://doi.org/10.1093/ajae/aat016" @default.
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