Agricultural Land Retirement and Slippage: Lessons from an Australian Case Study
AbstractThis paper uses a Computable General Equilibrium (CGE) model to examine the economic implications of agricultural land retirement from wool production for conservation in Australia. Employing an innovative specific-factors characterization of production to generate short-run and long-run results, we show that the potential welfare gains from land retirement can be significant. However, in several scenarios examined we find that slippage in agricultural production is significant, resulting in reduced welfare. Our slippage results provide insights into the relationship between the potential causes of slippage and describe how a land retirement policy can be designed to minimize this effect.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 81 (2005)
Issue (Month): 2 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
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- repec:ltr:wpaper:2010.02 is not listed on IDEAS
- Iain Fraser & Robert Waschik, 2010.
"The Double Dividend Hypothesis in a CGE Model: Specific Factors and Variable Labour Supply,"
2010.02, School of Economics, La Trobe University.
- Iain Fraser & Robert Waschik, 2010. "The Double Dividend Hypothesis in a CGE Model: Specific Factors and Variable Labour Supply," Studies in Economics 1001, Department of Economics, University of Kent.
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