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Evaluating the Market and Welfare Impacts of Agricultural Policies in Developed Countries: Comparison of Partial and General Equilibrium Measures

  • Gohin, Alexandre
  • Moschini, GianCarlo

We revisit the question of choosing partial equilibrium or general equilibrium modeling in applied policy analysis in the context of evaluating the effects of a complete phase-out of the Common Agricultural Policy (CAP) of the European Union. We compare the results of three modelsï¾—two three-sector general equilibrium models (one with an additional major distortion in the nonagricultural sector) and a two-sector partial equilibrium model. We find that the market effects of a complete phase-out of the CAP are quite comparable across these models. On the other hand, the measured welfare impacts may depend on the modeling choice.

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12727.

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Date of creation: 01 Jul 2006
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Publication status: Published in Review of Agricultural Economics, Summer 2006, vol. 28 no. 2, pp. 195-211
Handle: RePEc:isu:genres:12727
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Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070

Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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  1. van Tongeren, Frank & van Meijl, Hans & Surry, Yves, 2001. "Global models applied to agricultural and trade policies: a review and assessment," Agricultural Economics, Blackwell, vol. 26(2), pages 149-172, November.
  2. Patrick C. Westhoff & Jacinto F. Fabiosa & John C. Beghin & William H. Meyers, 2004. "Challenges in Modeling the Effects of Trade Agreements on the Agricultural Sector," Center for Agricultural and Rural Development (CARD) Publications 04-wp358, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  3. Bautista, Romeo M. & Robinson, Sherman & Tarp, Finn & Wobst, Peter, 1998. "Policy bias and agriculture: partial and general equilibrium measures," TMD discussion papers 25, International Food Policy Research Institute (IFPRI).
  4. Harrison, Glenn W & Rutherford, Thomas F & Tarr, David G, 1997. "Quantifying the Uruguay Round," Economic Journal, Royal Economic Society, vol. 107(444), pages 1405-30, September.
  5. Blackorby, Charles, 1999. " Partial-Equilibrium Welfare Analysis," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 1(3), pages 359-74.
  6. Mercenier, Jean, 1995. "Can "1992" reduce unemployment in Europe? On welfare and employment effects of Europe's move to a single market," Journal of Policy Modeling, Elsevier, vol. 17(1), pages 1-37, February.
  7. Gohin, Alexandre, 2005. "The specification of price and income elasticities in computable general equilibrium models: An application of latent separability," Economic Modelling, Elsevier, vol. 22(5), pages 905-925, September.
  8. repec:gta:gtapbk:7685 is not listed on IDEAS
  9. Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-76, September.
  10. Chambers, Robert G., 1995. "The incidence of agricultural policies," Journal of Public Economics, Elsevier, vol. 57(2), pages 317-335, June.
  11. Lawrence H. Goulder & Roberton C. Williams III, 2003. "The Substantial Bias from Ignoring General Equilibrium Effects in Estimating Excess Burden, and a Practical Solution," Journal of Political Economy, University of Chicago Press, vol. 111(4), pages 898-927, August.
  12. Gylfason, T, 1995. "The Macroeconomics of European Agriculture," Princeton Studies in International Economics 78, International Economics Section, Departement of Economics Princeton University,.
  13. Sharma, Ramesh & Konandreas, Panos & Greenfield, Jim, 1996. "An overview of assessments of the impact of the Uruguay Round on agricultural prices and incomes," Food Policy, Elsevier, vol. 21(4-5), pages 351-363.
  14. Hanemann, Michael & Morey, Edward, 1992. "Separability, partial demand systems, and consumer's surplus measures," Journal of Environmental Economics and Management, Elsevier, vol. 22(3), pages 241-258, May.
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