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Production efficiency and excess supply

Reinhorn, L.

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Abstract

This paper demonstrates that intermediate goods should not be taxed even in the presence of dividend payments to households. 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. (2012). Production efficiency and excess supply. Mathematical Social Sciences, 65(2), 92-100. https://doi.org/10.1016/j.mathsocsci.2012.09.002

Journal Article Type Article
Acceptance Date Sep 15, 2012
Online Publication Date Oct 4, 2012
Publication Date Oct 4, 2012
Deposit Date Sep 27, 2012
Publicly Available Date Mar 28, 2024
Journal Mathematical Social Sciences
Print ISSN 0165-4896
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 65
Issue 2
Pages 92-100
DOI https://doi.org/10.1016/j.mathsocsci.2012.09.002
Public URL https://durham-repository.worktribe.com/output/1473444

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