Leslie Reinhorn
Production efficiency and excess supply
Reinhorn, Leslie
Authors
Abstract
This paper demonstrates that intermediate goods should not be taxed even in the presence of dividend payments to households, thus clarifying previous results. We also find that optimal government policy in a second best world may include stockpiles of output - private supply exceeds private demand, and the government purchases the surplus. This may provide a possible explanation for some agricultural policies.
Citation
Reinhorn, L. (2011). Production efficiency and excess supply
| Publication Date | Nov 1, 2011 |
|---|---|
| Deposit Date | Dec 7, 2012 |
| Publicly Available Date | Dec 7, 2012 |
| Series Title | Durham University Business School Economics Finance Accounting Working Papers |
| Keywords | Production efficiency, Excess supply, optimal taxation, Non-tight equilibrium, Price supports,. JEL classifcation: H21. |
| Publisher URL | http://www.dur.ac.uk/business/faculty/working-papers/ |
Files
Published Working Paper
(246 Kb)
PDF
Downloadable Citations
About Durham Research Online (DRO)
Administrator e-mail: dro.admin@durham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search