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The Macroeconomics of European Agriculture


  • Gylfason, T


Should central banks concern themselves with agricultural policies? Does Europe's Common Agricultural Policy (CAP) matter for Central and Eastern Europe? Should ministries of agriculture be abolished, or perhaps be incorporated into ministries of environment or even education and culture? The answers suggested in this study - yes, yes and yes - are based on recent empirical evidence on the cost to consumers and taxpayers of agricultural protection in Europe in terms of welfare and lost and output foregone.

Suggested Citation

  • Gylfason, T, 1995. "The Macroeconomics of European Agriculture," Princeton Studies in International Economics 78, International Economics Section, Departement of Economics Princeton University,.
  • Handle: RePEc:fth:prinfi:78

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    Cited by:

    1. Thorvaldur Gylfason, 2004. "Monetary and Fiscal Management, Finance, and Growth," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 31(2), pages 71-91, June.
    2. Gylfason, Thorvaldur, 1998. "Output gains from economic stabilization," Journal of Development Economics, Elsevier, vol. 56(1), pages 81-96, June.
    3. Alexandre Gohin & GianCarlo Moschini, 2006. "Evaluating the Market and Welfare Impacts of Agricultural Policies in Developed Countries: Comparison of Partial and General Equilibrium Measures," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 28(2), pages 195-211.
    4. Jacob Kol & L. Winters, 2003. "Reconvering from Cancún: the EU responsibility," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 38(6), pages 339-345, November.
    5. Fertő, Imre, 1999. "A Európai Unió közös agrárpolitikájának gazdaságtana I. A CAP eszközei és hatásai
      [Economics of the EU common agrarian policy. Part I. The insstruments and impacts of the CAP]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 709-733.
    6. Andrew Austin, 2005. "Provincial Interests and Political Integration: Voting in the French Maastricht Referendum," CERGE-EI Working Papers wp281, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    7. Brockmeier, Martina & Bektasoglu, Beyhan, 2014. "Model structure or data aggregation level: Which leads to greater bias of results?," Economic Modelling, Elsevier, vol. 38(C), pages 238-245.

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    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy


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