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How to Derive Market Impacts of the Luxembourg Agreement on the German Beef Market - A Synthetic Uniform Model versus an Econometric Country Specific Model

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  • Salamon, Petra

Abstract

The paper discusses two partial equilibrium models, one is a synthetic model (GAPsi) and the other an econometrically estimated model (AG-MEMOD). While the synthetic model incorporates only price impacts and some shifts, the econometric model also reflects other influencing factors. Price formation includes policy measures as price wedges, or as explaining variables in key price equations or price transmission equations, which is also true when premiums and decoupling are regarded. When the Luxembourg Agreement is simulated, our example of beef shows that these model differences induce deviations in model results, especially concerning prices and trade.

Suggested Citation

  • Salamon, Petra, 2005. "How to Derive Market Impacts of the Luxembourg Agreement on the German Beef Market - A Synthetic Uniform Model versus an Econometric Country Specific Model," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24570, European Association of Agricultural Economists.
  • Handle: RePEc:ags:eaae05:24570
    DOI: 10.22004/ag.econ.24570
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    File URL: http://ageconsearch.umn.edu/record/24570/files/pp05sa01.pdf
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    References listed on IDEAS

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    1. Frederic Chantreuil & Fabrice Levert & Kevin Hanrahan, 2005. "The Luxembourg agreement reform of the CAP : an analysis using the Ag-Memod composite model," Post-Print hal-01594021, HAL.
    2. von Ledebur, Ernst-Oliver & Manegold, Dirk, 2004. "GAPsi simulations updated baseline and EU enlargement under the Mid-Term-Review scenario," Arbeitsberichte aus der vTI-Agrarökonomie 05/2004, Johann Heinrich von Thünen Institute, Federal Research Institute for Rural Areas, Forestry and Fisheries.
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    Keywords

    Agricultural and Food Policy;

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