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CAP REFORM, WHEAT PRICE INSTABILITY AND PRODUCER WELFARE AgEcon
Thompson, Stanley R.; Gohout, Wolfgang.
We use a simple nonlinear commodity market model to illustrate the impact of recent reforms of the CAP on the variability of EU and world wheat prices. Second, within an expected utility framework we estimate the transfer and risk effects on producer welfare due to market liberalizing reforms. We found that wheat producers were over-compensated for the losses due to lower prices following the 1992 reforms. The transfer effect clearly dominated while the risk component was small. Further, we did not find producer incomes to be more unstable following to the 1992 CAP reforms.
Tipo: Conference Paper or Presentation Palavras-chave: Price transmission; CAP reform; Price instability; Producer welfare; Wheat market; Demand and Price Analysis; International Relations/Trade.
Ano: 2000 URL: http://purl.umn.edu/21780
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CONDITIONAL FORECASTING FOR THE U.S. DAIRY PRICE COMPLEX WITH A BAYESIAN VECTOR AUTOREGRESSIVE MODEL AgEcon
Thraen, Cameron S.; Thompson, Stanley R.; Gohout, Wolfgang.
A dynamic Bayesian Vector Autoregressive model of the U.S. dairy price complex is estimated based on the Normal-Wishart distribution. The Gibbs sample technique is use with the Normal-Wishart distribution to provide conditional forecasts on the future time-paths of the model variables. The conditional forecasts for key prices are examined. Confidence intervals are calculated for the conditional forecasts.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis.
Ano: 2002 URL: http://purl.umn.edu/19706
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