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Policy Risk in the Canadian Dairy Industry

APPLIED ECONOMIC PERSPECTIVES AND POLICY, no. 1 (2012): 147-166

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Canadian dairy farmers purchase a marketing quota through the Provincial Marketing Boards to sell milk in Canada. That quota captures rents created by regulations and is subject to policy risk. We define policy risk as the farmers expectation that quota rents will decline or disappear over time. We calculate the effect of perceived policy...更多

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