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Imputing Dairy Producers' Quota Discount Rate Using the Individual Export Milk Program in Quebec

Listed author(s):
  • Doyon, Maurice
  • Brodeur, Catherine
  • Gervais, Jean-Philippe

Trade liberalization scenarios are often evaluated using sophisticated programming models that rely on a number of assumptions related to demand and supply parameters. One challenge researchers often encounter in the calibration of dairy trade liberalization models is to identify the supply response of producers under production quotas. The existence of production quotas in the Canadian dairy industry implies departures from standard marginal cost pricing. Under traditional net present value models, an assumption about the discount factors attached to production quotas must be made to infer the supply response of Canadian dairy producers following a change in the economic environment (e.g., import tariffs). The Individual Export Milk (IEM) program in Quebec generated an opportunity to estimate dairy producers’ discount factors for production quotas conditional on different assumptions about structural parameters such as producers’ risk preferences and cost efficiency.

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File URL: http://purl.umn.edu/46382
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Article provided by Canadian Agricultural Economics Society in its journal CAFRI: Current Agriculture, Food and Resource Issues.

Volume (Year): (2006)
Issue (Month): 07 ()
Pages:

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Handle: RePEc:ags:cafric:46382
Contact details of provider: Web page: http://caes.usask.ca/papers/cafri/index.php

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  1. Moschini, GianCarlo & Meilke, Karl D., 1988. "Sustainable Rates of Return for Milk Quotas in Ontario," Staff General Research Papers Archive 11270, Iowa State University, Department of Economics.
  2. Calum Turvey & Alfons Weersink & Craig Martin, 2003. "The Value of Dairy Quota under a Commercial Export Milk Program," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 51(1), pages 69-83, 03.
  3. Chen, Kevin Z. & Meilke, Karl D., 1996. "The Simple Analytics of Transferable Production Quota: Implications for the Marginal Cost of Ontario Milk Production," Staff Paper Series 24127, University of Alberta, Department of Resource Economics and Environmental Sociology.
  4. Karl Meilke & Rakhal Sarker & Danny Roy, 1998. "The Potential for Increased Trade in Milk and Dairy Products between Canada and the United States under Trade Liberalization," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 46(2), pages 149-169, 07.
  5. William G. Tomek & Hikaru Hanawa Peterson, 2001. "Risk Management in Agricultural Markets: A Review," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 21(10), pages 953-985, October.
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