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A dynamic economic equilibrium model for the economic assessment of the fishery stock-rebuilding policies

Author

Listed:
  • José-María Da-Rocha

    () (ITAM and Universidad de Vigo)

  • Raul Prellezo

    () (AZTI)

  • Jaume Sempere

    () (El Colegio de México)

  • Luis Taboada Antelo

    () ((IIM) CSIC)

Abstract

The paper develops and analyses a dynamic general equilibrium model with heterogeneous agents that can be used for assessment of the economic consequences of fish stock-rebuilding policies within the EU. In the model, entry and exit processes for individual firms are endogenous, as well as output, employment and wages. This model is applied to a fishery of the Mediterranean Sea. The results provide both individual and aggregate data that can help managers in understanding the economic consequences of rebuilding strategies. In particular, this study shows that, for the application presented, all aggregate results improve if the stock rebuilding strategy is followed, while individual results depend on the indicator selected.

Suggested Citation

  • José-María Da-Rocha & Raul Prellezo & Jaume Sempere & Luis Taboada Antelo, 2017. "A dynamic economic equilibrium model for the economic assessment of the fishery stock-rebuilding policies," Serie documentos de trabajo del Centro de Estudios Económicos 2017-01, El Colegio de México, Centro de Estudios Económicos.
  • Handle: RePEc:emx:ceedoc:2017-01
    as

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    References listed on IDEAS

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    1. John M. Ward & Jon G. Sutinen, 1994. "Vessel Entry-Exit Behavior in the Gulf of Mexico Shrimp Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 916-923.
    2. Jose Maria Da-Rocha & Marina Mendes Tavares & Diego Restuccia, 2014. "Policy Distortions and Aggregate Productivity with Endogenous Establishment-Level Productivity," Working Papers tecipa-523, University of Toronto, Department of Economics.
    3. José-María Da-Rocha & Jaume Sempere, 2017. "ITQs, Firm Dynamics and Wealth Distribution: Does Full Tradability Increase Inequality?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 249-273, October.
    4. Quinn Weninger & Richard E. Just, 2002. "Firm Dynamics with Tradable Output Permits," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 572-584.
    5. Gorka Merino & Francesc Maynou & Jean Boncoeur, 2009. "Bioeconomic model for a three-zone Marine Protected Area: a case study of Medes Islands (northwest Mediterranean)," Post-Print hal-00358115, HAL.
    6. Terrebonne R. Peter, 1995. "Property Rights and Entrepreneurial Income in Commercial Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 68-82, January.
    7. Diego Restuccia & Richard Rogerson, 2008. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 707-720, October.
    8. Bjorndal, Trond, 1987. " Production Economics and Optimal Stock Size in a North Atlantic Fishery," Scandinavian Journal of Economics, Wiley Blackwell, vol. 89(2), pages 145-164.
    9. Dale T. Manning & J. Edward Taylor & James E. Wilen, 2018. "General Equilibrium Tragedy of the Commons," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(1), pages 75-101, January.
    10. Prellezo, Raúl & Accadia, Paolo & Andersen, Jesper L. & Andersen, Bo S. & Buisman, Erik & Little, Alyson & Nielsen, J. Rasmus & Poos, Jan Jaap & Powell, Jeff & Röckmann, Christine, 2012. "A review of EU bio-economic models for fisheries: The value of a diversity of models," Marine Policy, Elsevier, vol. 36(2), pages 423-431.
    11. Jordi Guillen & Claire Macher & Mathieu Merzéréaud & Jean Boncoeur & Olivier Guyader, 2015. "Effects of the Share Remuneration System on Fisheries Management Targets and Rent Distribution," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 123-138.
    12. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-1150, September.
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    Cited by:

    1. José-María Da-Rocha & Javier García-Cutrín & Raul Prellezo & Jaume Sempere, 2017. "The social cost of fishery subsidy reforms," Serie documentos de trabajo del Centro de Estudios Económicos 2017-02, El Colegio de México, Centro de Estudios Económicos.
    2. Adriana Gama, 2017. "Standards, taxes and social welfare," Serie documentos de trabajo del Centro de Estudios Económicos 2017-04, El Colegio de México, Centro de Estudios Económicos.

    More about this item

    Keywords

    macroeconomics; general equilibrium model; multiannual management plans;

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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