Simulating the Effects of Supply and Demand Elasticities on Political-Economic Equilibrium

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dc.creatorBullock, David S.
dc.date2017-09-11T14:55:55Z
dc.date2017-09-11T14:55:55Z
dc.date2008-06
dc.date.accessioned2026-07-01T01:01:25Z
dc.descriptionWallace's (1962) pioneering study brought to agricultural economics a focus on the role of supply and demand elasticity's in determining the efficiency with which agricultural policy transfers income among interest groups. His discussion provides key insights into what I call the "consequences of policy" side of current models of political economy. Becker's (1983) and Grossman and Helpman's (1994) models, both famously seminal in the political economy literature, have such "consequences" sides, and therefore when agricultural policy is examined in their models' frameworks, market elasticity's play key roles. These two models have also "causes of policy" sides, which describe interest groups' abilities to create political pressure. Wallace aim is to provide a theoretical review and exposition of the effects of elasticity's on redistribution efficiency, and in turn on distortional policies in political economic equilibrium. He demonstrates how models of actual political economies might be built and used to derive theoretical predictions about how market elasticity's affect policy and income transfers. Applying similar models to examine real world political economies can provide testable hypotheses about how market parameters affect distortional policies.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/840971468332983433/Simulating-the-effects-of-supply-and-demand-elasticities-on-political-economic-equilibrium
dc.identifierhttps://hdl.handle.net/10986/28277
dc.identifierhttps://doi.org/10.1596/28277
dc.identifier.urihttp://hdl.handle.net/123456789/414337
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationAgricultural Distortions Working Paper;66
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectAGRICULTURAL PRICE
dc.subjectAGRICULTURE
dc.subjectCLOSED ECONOMY
dc.subjectCOMPETITIVE EQUILIBRIUM
dc.subjectCONSTANT RETURNS TO SCALE
dc.subjectCONSUMER PRICE
dc.subjectCONSUMER SURPLUS
dc.subjectCONSUMERS
dc.subjectCOST INCREASES
dc.subjectDEMAND CURVE
dc.subjectDEMAND ELASTICITY
dc.subjectDEMAND FUNCTION
dc.subjectECONOMIC EFFECTS
dc.subjectECONOMIC EQUILIBRIUM
dc.subjectELASTICITY
dc.subjectELASTICITY OF DEMAND
dc.subjectELASTICITY OF SUPPLY
dc.subjectEQUILIBRIUM PRICES
dc.subjectEXPENDITURES
dc.subjectEXPERIMENTAL ECONOMICS
dc.subjectEXTERNALITIES
dc.subjectFREE TRADE
dc.subjectGAME THEORY
dc.subjectGOVERNMENT INTERVENTION
dc.subjectINCOME
dc.subjectINTEREST GROUP
dc.subjectMARGINAL BENEFITS
dc.subjectMARGINAL COST
dc.subjectMARGINAL COSTS
dc.subjectMARGINAL VALUE
dc.subjectMONOPOLIES
dc.subjectNASH EQUILIBRIUM
dc.subjectOPPORTUNITY COST
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL POWER
dc.subjectPRICE LEVEL
dc.subjectPRICE POLICY
dc.subjectPRICE SUPPORT
dc.subjectPRICE SUPPORTS
dc.subjectPRODUCER PRICE
dc.subjectSALE
dc.subjectSOCIAL COST
dc.subjectSOCIAL COSTS
dc.subjectSUBSTITUTE
dc.subjectSUPPLIERS
dc.subjectSUPPLY CURVE
dc.subjectSUPPLY ELASTICITY
dc.subjectSUPPLY FUNCTION
dc.subjectTAX
dc.subjectTAX REVENUES
dc.subjectTRADE POLICY
dc.subjectWELFARE ECONOMICS
dc.subjectWORLD POLITICAL ECONOMY
dc.titleSimulating the Effects of Supply and Demand Elasticities on Political-Economic Equilibrium
dc.typeWorking Paper
dc.typeDocument de travail
dc.typeDocumento de trabajo

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