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Changing the Total Allowable Catch (TAC) Decision-Making Framework: A Central Bank of Fishes?

Author

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  • Kepa Astorkiza
  • Ikerne del Valle

Abstract

The difficulties that the current model of TAC regulation generates in the current system of EU fisheries are analysed. Although the production structure of the TAC has been set up in collaboration with ICES, the determination process lacks short-term contributions from the field of biology. Once these inputs undergo the decision process of the EU, the resulting TACs are significantly biased in relation to the initial recommendations. To solve this problem, a different institutional model with the addition of a Central Bank-like of Fishes is proposed. Key words: Common Fisheries Policy (CFP), Individual Transferable Quota (ITQ), European Union (EU), Central Bank-like of Fishes (CBF), International Council for the Exploration of the Sea (ICES).JEL: Q22, H12, L16, K23.

Suggested Citation

  • Kepa Astorkiza & Ikerne del Valle, 2013. "Changing the Total Allowable Catch (TAC) Decision-Making Framework: A Central Bank of Fishes?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(3), pages 415-431.
    • Handle: RePEc:voj:journl:v:60:y:2013:i:3:p:415-431:id:359
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    File URL: https://panoeconomicus.org/index.php/jorunal/article/view/359/344
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    More about this item

    Keywords

    Individual Transferable Quota (ITQ); European Union (EU); Common Fisheries Policy (CFP); Central Bank-like of Fishes (CBF); International Council for the Exploration of the Sea (ICES);
    All these keywords.

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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