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...

Ethanol production has recently surged in response to biofuel policies and increased fossil oil prices. We develop a partial equilibrium model focused on U.S. corn-based ethanol production with downside risk-averse farmers to assess the consequences of ethanol production on agricultural...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> The present round of multilateral trade negotiations is still deadlocked over agricultural trade. The European Union (EU) is urged by its trading partners to open its agricultural markets. Economic evaluations of trade liberalisation scenarios unanimously conclude that a substantial...

[eng] The New Reform of the Common Agricultural Policy: an International Outlook . The new Common Agricultural Policy reform was adopted ,in March 1999 to promote a new European agricultural \ model based on recognising farmers economic, environmental and territorial roles. The economic function...

In relation to the growing debate around multifunctionality, this paper attempts to classify alternative measures of agricultural income support according to their ability in achieving three policy objectives (supporting agricultural income, promoting positive externalities and reducing negative...

"On June 26, 2003, the European Union (EU) adopted a new reform of its Common Agricultural Policy (CAP). Its boldest measure is the creation of a Single Farm Payment that will replace most of the present direct payments. We address quantitatively three issues raised by this new reform, using a...

Most international trade models fail to account for the fact that almost all goods must pass through the distribution sector. The authors compare different approaches to modeling distribution within an Applied General Equilibrium framework and find that such modeling may significantly affect...

This paper proposes a new decomposition of welfare effects simulated by Computable General Equilibrium (CGE) models. Rather than relying on first order approximations, our approach is based on Taylor series approximations of CGE specifications and thus is path independent. This decomposition is...