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The Welfare And Resource Allocation Implications Of The U.S. Dairy Quotas

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Author Info
JOSEPH E. FLYNN
KENNETH A. REINERT

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Abstract

This paper examines the welfare and resource allocation implications of the U.S. dairy quotas. A computable general equilibrium model detailing five dairy sectors and nine aggregate sectors is calibrated to a 1989 benchmark of the U.S. economy. The model is used to simulate the removal of the U.S. dairy quotas both with and without a first-best subsidy to maintain a dairy farm output objective. Welfare, production, trade, and employment results are provided. The welfare cost of the U.S. dairy quotas ranges from $0.7 to $1.0 billion. The first-best subsidy ranges from $2.0 to $2.3 billion or approximately $1.4 million per full-time equivalent job maintained in the dairy farm sector, [F13, Q17]

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Publisher Info
Article provided by Korean International Economic Association in its journal International Economic Journal.

Volume (Year): 7 (1993)
Issue (Month): 2 (June)
Pages: 91-108
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Handle: RePEc:taf:intecj:v:7:y:1993:i:2:p:91-108

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Devarajan, Shantayanan & Rodrik, Dani, 1991. "Pro-competitive effects of trade reform : Results from a CGE model of Cameroon," European Economic Review, Elsevier, vol. 35(5), pages 1157-1184, July. [Downloadable!] (restricted)
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  2. Anderson, James E, 1985. "The Relative Inefficiency of Quotas: The Cheese Case," American Economic Review, American Economic Association, vol. 75(1), pages 178-90, March. [Downloadable!] (restricted)
  3. Ippolito, Richard A & Masson, Robert T, 1978. "The Social Cost of Government Regulation of Milk," Journal of Law & Economics, University of Chicago Press, vol. 21(1), pages 33-65, April.
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  1. Gerald C. Berg & Kenneth A. Reinert, 1995. "A Computable General Equilibrium Estimation Of The Effects Of The U.S. Meat Program," International Economic Journal, Korean International Economic Association, vol. 9(1), pages 53-66, April. [Downloadable!] (restricted)
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