| 초록 |
It is time to make an effective rice storage policy so as to stabilize the domestic market and secure food security in the era of agricultural trade liberalization under th WTO system. This study uses a dynamic stochastic optimization model to examine the nature of dynamic equilibrium processes and to solve for the Korean rice storage rules. Optimal storage rule differs when welfare weight is considered in the model compared to when it is not included. This suggests that the optimal carryover level from conventional social welfare function or competitive private storage market will not be the same as the level generated by maximizing more flexible policy objective function with welfare preferences toward interest groups.
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