The welfare cost of Japanese rice policy with home-good preference and an end…

The welfare cost of Japanese rice policy is estimated in the context of a large importing country, treating domestically produced rice and imported rice as heterogeneous goods and where there is home-good preference. Not accounting for this preference will cause the gains from liberalisation to be overestimated. The period that is analysed is 2004–2007, departing from that in previous studies…