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Removal of farm subsidies in a regional economy: a computable general equilibrium analysis

[journal article]

Miguel, Francisco Javier de; Manresa, Antonio

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Abstract The purpose of this paper is to analyse the importance of farm subsidies for the Extremadura economy. To this end, a computable general equilibrium model for this region is presented, with which we analyse the economic effects caused by a simulated removal of these subsidies. Different scenarios involving the labour market rigidities and tax compensation are considered. Model parameters are determined by the procedure known as calibration, using a social accounting matrix constructed for this economy. The results clearly show the negative effects that this elimination would produce on the main micro and macroeconomic variables.
Document language English
Publication Year 2008
Page/Pages p. 2109-2120
Journal Applied Economics, 40 (2008) 16
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)