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Analysing the Effects of a Pigs Production Quota within a Dynamic CGE Framework

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In this paper we address the issue of timing and announcement within a dynamic applied general equilibrium model of the Danish economy. Specifically we analyse the introduction of a quota on the production of pigs. Two scenarios are analysed, namely the introduction of a once-off quota without any previous announcement and secondly, an announced gradually phased in production quota. Our findings suggest that the adjustment path is smoother when the policy is announced compared with the one being implemented without warning. This is the result of investors anticipating correctly future adjustments in prices and rental rates when making their investment decisions. Hence, the capital stock starts to adjust from the start of the simulation. When the quota is implemented without warning investors adjusts fully when the quota is implemented. In the long run, however, we find that the alternative timing strategies lead to similar results.
OriginalsprogEngelsk
TitelGTAP 2001 Conference Papers
Antal sider20
ForlagCenter for Global Trade Analysis, Purdue University
Publikationsdato2001
StatusUdgivet - 2001
BegivenhedAnnual Conference on Global Economic Analysis, Purdue University, USA - West Lafayette, IN, USA
Varighed: 27 jun. 200129 jun. 2001
Konferencens nummer: 4

Konference

KonferenceAnnual Conference on Global Economic Analysis, Purdue University, USA
Nummer4
LandUSA
ByWest Lafayette, IN
Periode27/06/200129/06/2001

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