| 초록 |
Government purchase policy that buys a fixed amount of a product is known to have no effect on production. However, government purchase policy is not decoupled with production when market price is random. Under the price uncertainty, government purchase policy contributes to the increase in production by reducing the market risk that farmers face. In addition, government purchase policy is more effective in the countries where marginal cos of production is low than the countries where marginal cost is already high.
|
