Modelling the Australian government's buyback scheme with a dynamic multi-regional CGE model
AbstractTERM-H2O is a dynamic, multi-regional computable general equilibrium model of the Australian economy with agricultural detail adapted to include regional water accounts. It focuses on the effects of inter-regional water trading. Factors of production are mobile between sectors in farm industries. TERM-H2O includes complementarity conditions that impose constraints on the volume of irrigation water traded between regions. The application detailed here is to the Commonwealth government's water buyback scheme against a background of temporary drought. The buyback scheme provides a windfall gain for holders of water rights by raising the price of irrigation water. The scheme may provide a net benefit to irrigation regions while increasing environmental flows.
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Bibliographic InfoPaper provided by Monash University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-186.
Date of creation: Apr 2009
Date of revision:
Publication status: Published in 'Saving the Southern Murray-Darling Basin: the Economic Effects of a Buyback of Irrigation Water', Economic Record 87(276):153-168, January 2011. DOI: 10.1111/j.1475-4932.2010.00691.x
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regional modelling; CGE modelling; water;
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
- R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
- R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-30 (All new papers)
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