Intermittent Trade Disruptions and Optimal Production
构建了一个规划模型，研究面临生产刚性和不确定、间歇性贸易禁运的小国的最优生产政策，并分析了随机过程、贸易条件等因素对目标产量和福利的影响。
This paper develops a planning model to study the optimal production policy of a small country facing production rigidity, as well as uncertain and intermittent trade embargoes. The optimal policy is completely characterized by two target production points. With minor exceptions, the effects on the target points and welfare of the stochastic process governing the imposition and lifting of embargoes, the terms of trade, the ease of adjusting production, the discount rate, and the attitude towards risk can be ascertained and are economically rather intuitive. Some issues of decentralization and government intervention are also discussed. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.