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President Calderón opted for using price ceilings for tortillas that protect local producers of corn. This price control came in the form of a "Tortilla Price Stabilization Pact" between the government and many of the main tortilla producing companies, including Grupo Maseca and Bimbo, to put a price ceiling at MXN 8.50 per kilogram of tortilla. [6]
Software used: Federal Digital System, U. S. Government Publishing Office: Date and time of digitizing: 19:08, 24 January 2017: File change date and time
A related government intervention to price floor, which is also a price control, is the price ceiling; it sets the maximum price that can legally be charged for a good or service, with a common example being rent control. A price ceiling is a price control, or limit, on how high a price is charged for a product, commodity, or service.
The regulatory price can be viewed as a focal point, which is natural for both parties to charge. One research paper documenting the phenomenon is Knittel and Stangel, [4] which found that in the 1980s United States, states that fixed an interest rate ceiling of 18 percent had firms charging a rate only slightly below the ceiling. States ...
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Incomes policies have often been resorted to during wartime. During the French Revolution, "The Law of the Maximum" imposed price controls (by penalty of death) in an unsuccessful attempt to curb inflation, [2] and such measures were also attempted after World War II. Peacetime income policies were resorted to in the U.S. in August 1971 as a ...
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The Economic Stabilization Act of 1970 (Title II of Pub. L. 91–379, 84 Stat. 799, enacted August 15, 1970, [2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers [3] as part of a general program of price controls within the American domestic goods and labor ...