Between a cap and a higher price: Modelling the price of dairy quotas under price ceiling legislation
研究了加拿大魁北克省乳制品生产配额市场的价格上限政策替代方案，通过模型估计配额价格，发现配额供应增加4.16%或适度贸易自由化可将价格降至上限水平。
Abstract This paper considers various policy alternatives to price ceiling legislation in the market for production quotas in the dairy farming sector in Quebec. I develop a model of farmers’ demand for quotas and estimate a structural parameter that is required for the counterfactual experiments. Using my econometric results and the modelled equilibrium price, I estimate the price of dairy quotas over the period 1993–2011. The counterfactual experiments indicate that the price of quotas could be reduced to the ceiling price through a 4.16% expansion of the aggregate supply of quotas, or through moderate trade liberalization of Canadian dairy products.