The level of price volatility should theoretically be confined to export parity price levels at the lower end and import parity price levels at the upper end of the price band, reflecting supply and demand conditions during surplus and deficit marketing seasons respectively. A greater gap between these export and import parity prices will reflect high marketing costs, often representing high tr...

The paper examines the impact of the income distribution in a less-developed country (LDC) on its patterns of trade, through its influence on home market demand patterns. In a learning-by-doing model with nonhomothetic preferences, the authors show that import substitution under low inequality generates more focused learning and enhances trade potential more effectively. In addition, relative w...

One of the chief complaints against the federal importer of burley tobacco. Italy, Greece, South tobacco program is that it sets prices too high Korea, and almost every other burley exporting relative to foreign tobaccos: most foreign burley country import substantial amounts of burley. tobaccos are priced between one-third and oneThese foreign exporters typically import large half the price of...