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Factor Markets in Applied Equilibrium Models: The current state and planned extensions towards an improved presentation of factor markets in agriculture AgEcon
Shutes, Lindsay; Rothe, Andrea; Banse, Martin.
This paper describes how factor markets are presented in applied equilibrium models and how we plan to improve and to extend the presentation of factor markets in two specific models: MAGNET and ESIM. We do not argue that partial equilibrium models should become more ‘general’ in the sense of integrating all factor markets, but that the shift of agricultural income policies to decoupled payments linked to land in the EU necessitates the inclusion of land markets in policy-relevant modelling tools. To this end, this paper outlines options to integrate land markets in partial equilibrium models. A special feature of general equilibrium models is the inclusion of fully integrated factor markets in the system of equations to describe the functionality of a...
Tipo: Working Paper Palavras-chave: Factor Markets; Applied Equilibrium Models; Extensions; Community/Rural/Urban Development; Research Methods/ Statistical Methods; Teaching/Communication/Extension/Profession.
Ano: 2012 URL: http://purl.umn.edu/122851
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