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The Optimality of the Common Fisheries Policy: the Northern Stock of Hake

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  • Gutiérrez Huerta, María José
  • Da Rocha, José María

Abstract

We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits would have been if the optimal Common Fisheries Policy (CFP) consistent with the target biomass implied by the Fischler’s Recovery Plan had been implemented. The main finding are: i) an optimal CFP would have generated profits of more than 667 millions euros, ii) if side-payments are allowed (implemented by ITQ’s, for example) these profits increase 26%.

Suggested Citation

  • Gutiérrez Huerta, María José & Da Rocha, José María, 2002. "The Optimality of the Common Fisheries Policy: the Northern Stock of Hake," DFAEII Working Papers 1988-088X, University of the Basque Country - Department of Foundations of Economic Analysis II.
    • Handle: RePEc:ehu:dfaeii:6760
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    1. Da Rocha, Jose Maria & Gutierrez, Maria Jose, 2004. "La reforma del Principio de Estabilidad Relativa en la Política Pesquera Común: el caso del caladero norte de merluza [The Reform of the Relative Stability Principle: the Northern Stock of Hake]," MPRA Paper 66099, University Library of Munich, Germany.
    2. M. Garza-Gil, 1998. "ITQ Systems in Multifleet Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(1), pages 79-92, January.
    3. Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
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    5. Escapa, Marta & Gutierrez, Maria Jose, 1997. "Distribution of Potential Gains from International Environmental Agreements: The Case of the Greenhouse Effect," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 1-16, May.
    6. Eirik Amundsen & Trond Bjørndal & Jon Conrad, 1995. "Open access harvesting of the Northeast Atlantic minke whale," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 6(2), pages 167-185, September.
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