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The Luxembourg Agreement Reform of the CAP: an Analysis Using the AG-MEMOD Composite Model

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  • Chantreuil, Frédéric
  • Levert, Fabrice
  • Hanrahan, Kevin

Abstract

In this paper we present the results for EU-15 of a simulation of the Luxembourg CAP reform based on the AG-MEMOD composite model. This dynamic partial equilibrium econometric multi products model comprises of national country level sub-models that are combined to be linked and solved in prices generating projections for each country, and the entire EU, for each year to a 10-year horizon. Under the Luxembourg reform scenario simulated direct payments in the grains and oilseeds, cattle and beef, and sheep commodity market organisations are fully decoupled. Intervention price reductions for butter agreed as part of the reform are also considered. The impact of the Luxembourg Agreement reform scenario is measured against a Baseline of a continuation of Agenda 2000 agricultural policy. The impact of the Luxembourg Agreement reform scenario is measured against a Baseline of a continuation of Agenda 2000 EU agricultural policy.

Suggested Citation

  • Chantreuil, Frédéric & Levert, Fabrice & Hanrahan, Kevin, 2005. "The Luxembourg Agreement Reform of the CAP: an Analysis Using the AG-MEMOD Composite Model," 89th Seminar, February 2-5, 2005, Parma, Italy 232590, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaae89:232590
    DOI: 10.22004/ag.econ.232590
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    References listed on IDEAS

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    1. David A. Hennessy, 1998. "The Production Effects of Agricultural Income Support Policies under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 46-57.
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