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) ;If,:1~ Michaely tl1'.l:m~20~J:~, (ii)*'it~~'J:E (substantial instability

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50 90.90

1

93.46 91.61

51 82. 601 87.17

1

91.48] 95.70 94.40I

52 92.86 93.75 93.68.

97·"1100.50

53 100.65) 98.77l 96. 421

97.56 102.98

54 101. 77/ 97.751

97.12 97.56 98.20I

55 99.36 99. 861 99. 63i 99.54 99.64I

56 98.87\ 102.38 103.25' 10290

1

102.16I 1

57 I 111. si: 107.57, 108.63i

110.96 105.19I

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58 I 101.65 104.78 110.84 116.55 104.94I

109.541 113.461 120.77159

I100.79: 107.79

I I114.94

160 114.81! 112.771 124. 121 107.93

I I61 I 122.36 119.00 121.61, 127.84: 112.75I ] II I

62 135.091 141.99 143.68 138.271 138.52I I I I

63 I 198.40 213.85. 217.10\ 203.93\ 194.72I I

I I I I6. 78231M.I I 10. 2878i 8.7700 7.6085 7.2735

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14.57501

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2.0806; 0.1836

50-60 0.2016 0.1486. I. 5211, 0.9790 0.5342, 0.1910

57-63 0.8174[ 0.8862

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iTi.i;t{ffit-j~h:rf;'j iTf11m

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49 -74,115 -52,358

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51 -22,509 -14,530

52 -48,296 -30,124

53 -55,115 -31,103

54 -38,959 -22,729

55 - 4,212 1,211

56 37,680 32,323

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58 52,584 26,415

59 99,899 71,310

60 78,952 60,861

61 64,337 40,751

62 67,912 43,762

63 -82,747 -92,934

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49 826,468 "-1,084;995 -258,527

50 470,666 -377,857 92,809

51 -57 ,481 167,750 110,269

52 267,588 -184,782 82,806

53 514,683 -354,705 159,978

54 104,622 78,963 183,585

55 -150,053 325,115 175,062

56 370,048 -724,734 -354,686

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59 3,736,353 -7,306,321 -3,569,968

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a- : Economic Planning Council, Taiwan Statistical Data Book, 1759,

Executive yuan, p. 52.

ll=:~~~~~.'~~*~~=W~~~~~~~~~E~o

B!=:::' : Michaely M., Concentration in International Trade, Amsterdam,

1962, pp. 68-69.

B!1lQ : UNCTD, The Development of an International Commodity,

Policy, New Delhi, 1968, pp. 16-17.

ali : Ji!. Michaely M. p, 94.

ittr: : ~m1~?&:Z1R ' ::JtQt Massell, Tisdell ~ Turnovsky ~AJ!~ft~ Q

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- 28-

1. Blandford D. and Currie J. M., Price Uncertainty-the Case for

Government Intervention, Journal of Agricultural Economics,

January 1975, pp. 37-62.

2. Berch Karl Henrik, The Economics of Uncertainty, Princeton,

New Jersey, 1972.

3. Houck James P., Some Economic Aspects of Agricultural Regu­

lation and Stabilization, American Journal of Agrfeultural

Economics, December 1974, pp. 1113-1124.

4. Howell L. D., Does the Consumer Benefit from Price Instability,

Quarterly Journal of Economics, February 1945, pp. 287-295.

5. Kennedy G. and Candler W. , Price Stabilization through Deficiency

Payment, Canadian Journal of Agricultural Economics, 23(2),

1975, pp. 15-27.

6. Martin Evans, Guaranteed Price Adjustment and Market Stability

in the United Kingdom: The Case of Beef and Milk, American

Journal of Agricultural Economics, February 1974. pp. 26-37.

7. Massell Benton F., Price Stabilization and Welfare, Quarterly

Journal of Economics, May 1969, pp. 284-298.

8. Oi W. y., The Desirability of Price Instability under Perfecl

Competitton, Econometrica, January 1961, pp. 58-64.

9. Richardson R. A. and Farris P. L., Farm Commodity Price

Stabilization through Furures Market, American Journal of

Agricultural Economics, May 1973, pp. 225-230.

10. Tisdell C. A., Uncertainty, Instability, Expected Profit,

Econometr-ica, Vol. 31, No. 1-2 (January-April, 1963), pp.

243-247.

11. Tisdell C. A., The Theory of Price Uncertainty, Production

and Profit, Princeton, New Jersey, 1968.

12. Turnovsky Stephen]., Price Expectations and the Welfare Gains

from Price Stabilization. American Journal of Agricultural Econ­

omics, November 1974, pp. 706-716.

13. Waugh F. V., Does theConsumer Benefit from Price Instability?

Quarterly Journal of Economics, August 1944, pp, 602-614.

( 28 )

-29 -

14. Wegge L. L., Sosnick S. H. and George P. S., The Effect of

Price Stabilization on Consumer's Welfare, Western Journal

of Economics, September 1971, pp. 289-298.

15. Zucker Albert, On the Desirability of Price Instability: An

Extension of the Discussion, Econometrica, Vol. 33. No. 2(April,

1965), pp. 437-441.

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