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Short and Long Run Approaches to Water Demand Estimation

Author

Listed:
  • Pagan, Phil
  • Fagan, Margot
  • Crean, Jason
  • Jones, Randall E.

Abstract

Implementation of Council of Australian Governments (COAG) and State based water reform initiatives are likely to create significant structural adjustment pressures in irrigation areas throughout the Murray Darling Basin. There are concerns about the adequacy of short run models in both analyzing the impacts of these reforms and capturing the responses of irrigators to structural adjustment pressures. The legitimacy of these concerns are explored in this paper. A long run specification of the Murrumbidgee Irrigation Area has been developed, against which the short-run regional linear programming model developed by Jones and Fagan (1996) is compared. A range of policy settings are examined under these alternative specifications to investigate the level of divergence between the two approaches. This information provides an indication of the importance of accommodating strategic longer term changes in resource allocation in analyzing the impact of water reforms.

Suggested Citation

  • Pagan, Phil & Fagan, Margot & Crean, Jason & Jones, Randall E., 1997. "Short and Long Run Approaches to Water Demand Estimation," 1997 Conference (41st), January 22-24, 1997, Gold Coast, Australia 136499, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare97:136499
    DOI: 10.22004/ag.econ.136499
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    Cited by:

    1. Wheeler, Sarah Ann & Bjornlund, Henning & Shanahan, Martin & Zuo, Alec, 2008. "Price elasticity of water allocations demand in the Goulburn–Murray Irrigation District," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), pages 1-19.
    2. Hughes, Neal, 2011. "Estimating irrigation farm production functions using ABARES irrigation survey data," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia 100564, Australian Agricultural and Resource Economics Society.
    3. de Bonviller, Simon & Wheeler, Sarah Ann & Zuo, Alec, 2020. "The dynamics of groundwater markets: Price leadership and groundwater demand elasticity in the Murrumbidgee, Australia," Agricultural Water Management, Elsevier, vol. 239(C).

    More about this item

    Keywords

    Environmental Economics and Policy;

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