Water trading, buybacks and drought in the Murray-Darling basin: lessons from economic modelling
TERM-H2O, a dynamic, multi-regional model has become a useful tool for analysing water policy issues in the Murray-Darling basin. Available data indicate that farm factor mobility has been an important avenue of adjustment to sharply reduced water availability during drought. The regional impacts of water buybacks in the basin are much smaller than otherwise as a consequence of this mobility.
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Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 55(3), September.
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