|
|
|
|
|
| Listorti, Giulia; Esposti, Roberto. |
| This paper aims at making the world price endogenous within the AGMEMOD modelling approach. This approach constructs country-level commodity market models where supply and demand sides are equalized on the basis of the observed domestic prices. These prices are endogenous as they depend (price transmission equation) on a EU key-price, which is, in turn, endogenously determined by the world price (price formation equation). The world prices, however, are assumed to be exogenous. To make the world price endogenous, we propose a system of equations where the EU key-price and the world price are simultaneously determined. This system of equations, written in a dynamic and error-correction form (VECM), substitutes the usual price-formation equation, while price... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Price Formation and Transmission; Commodity Market Models; VECM; Demand and Price Analysis; Research Methods/ Statistical Methods; Q110; Q170. |
| Ano: 2008 |
URL: http://purl.umn.edu/6659 |
| |
|
|
| Esposti, Roberto; Lobianco, Antonello. |
| This paper aims to summarize some of the major results emerging from simulating the impact of the CAP reform (the so-called Fischler Reform or Luxembourg Agreement, LA) within the AG-MEMOD model of the agri-food sector in Italy. The paper shows how the model generates impacts when alternative policy scenarios (Agenda 2000 vs. LA) are specified. As major evidence of this impact in the Italian case, the crop sector is dealt with in detail. In particular, the case of supplementary payments for durum wheat clarifies how the reform may specifically affect Mediterranean agriculture and how alternative specifications of the regime switch in durum wheat support relevantly influence the impact. |
| Tipo: Journal Article |
Palavras-chave: Common Agricultural Policy; Italian Agriculture; Commodity Market Models; Crop Production/Industries; Q110; Q180. |
| Ano: 2005 |
URL: http://purl.umn.edu/44091 |
| |
|
|
|
