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The Economic Impact Of Crop Losses: A Computable General Equilibrium Approach

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  • Sherony, Keith R.
  • Knowles, Glenn J.
  • Boyd, Roy

Abstract

The impact of crop losses on the U.S. economy are analyzed using a Computable General Equilibrium (CGE) Model. In doing so, concerns about widespread crop losses due to a global climate change or environmental event are addressed. The CGE approach allows for analysis of the interactions between supply and demand within agricultural markets as well as between these markets and the rest of the economy. The results suggest that policy responses which allow free market pricing signals to determine production mitigate the effects of an event that approximates the drought of 1988.

Suggested Citation

  • Sherony, Keith R. & Knowles, Glenn J. & Boyd, Roy, 1991. "The Economic Impact Of Crop Losses: A Computable General Equilibrium Approach," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-12, July.
    • Handle: RePEc:ags:wjagec:32628
    DOI: 10.22004/ag.econ.32628
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    References listed on IDEAS

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    9. Cynthia Rosenzweig, 1989. "Global Climate Change: Predictions and Observations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(5), pages 1265-1271.
    10. Beach, Robert H. & Thomson, Allison M. & McCarl, Bruce A., 2010. "Climate Change Impacts On Us Agriculture," 2010: Climate Change in World Agriculture: Mitigation, Adaptation, Trade and Food Security, June 2010, Stuttgart-Hohenheim, Germany 91393, International Agricultural Trade Research Consortium.
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    Cited by:

    1. Wei, Yi-Ming & Mi, Zhi-Fu & Huang, Zhimin, 2015. "Climate policy modeling: An online SCI-E and SSCI based literature review," Omega, Elsevier, vol. 57(PA), pages 70-84.
    2. Glyn Wittwer & Marnie Griffith, 2011. "Modelling drought and recovery in the southern Murray‐Darling basin," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(3), pages 342-359, July.

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    Keywords

    Crop Production/Industries;

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