Campus Units

Economics

Document Type

Article

Publication Version

Accepted Manuscript

Publication Date

2006

Journal or Book Title

Review of Agricultural Economics

Volume

28

Issue

2

First Page or Article ID Number

195

Last Page

211

DOI

10.1111/j.1467-9353.2006.00281.x

Abstract

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 models—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.

JEL Classification

D58, Q18

Comments

This is the peer reviewed version of the following article: Gohin, A., and Moschini, G., “Evaluating the Market and Welfare Impacts of Agricultural Policies in Developed Countries: Comparison of Partial and General Equilibrium Measures,” Review of Agricultural Economics 28(2)(2006):195-211, which has been published in final form at DOI:10.1111/j.1467-9353.2006.00281.x . This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving

Copyright Owner

Agricultural and Applied Economics Association

Language

en

File Format

application/pdf

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