TY - JOUR
T1 - Reform of the European Union's Common Agricultural Policy
T2 - How to reach GATT-compatibility?
AU - Weyerbrock, Silvia
N1 - Funding Information:
I am grateful for many helpful comments and suggestions from Irma Adel-man, Sherman Robinson, Jeffrey Perloff, Barry Eichengreen, Elhanan Helpman (the editor), two anonymous referees,a nd seminar participants at the 1996E EA Congress and Rutgers University. I thank Ken Hanson, Dominique van der Mensgrugghe, and Marinos Tsigas for providing a sizable part of the data. All errors are mine. This research was supported by a research agreementw ith the International Food Policy Research Institute (IFPRI). Any view expressedi n this article are those of the author and do not necessarily reflect the view of IFPRI.
PY - 1998/2
Y1 - 1998/2
N2 - This paper studies the reform of the European Union's Common Agricultural Policy (CAP). It examines three questions: (1) do current reforms meet the targets specified in the Uruguay Round Agreement? (2) what additional reforms are needed to make CAP GATT-compatible? and (3) does CAP reform alleviate the EU's budgetary problem? To investigate these issues, we use a six-region, 13-sector computable general equilibrium model with explicitly modeled policies. We find that CAP reform worsens the EU's budgetary situation and does not meet the GATT targets. We quantify support price reductions and quota increases needed to reach the targets.
AB - This paper studies the reform of the European Union's Common Agricultural Policy (CAP). It examines three questions: (1) do current reforms meet the targets specified in the Uruguay Round Agreement? (2) what additional reforms are needed to make CAP GATT-compatible? and (3) does CAP reform alleviate the EU's budgetary problem? To investigate these issues, we use a six-region, 13-sector computable general equilibrium model with explicitly modeled policies. We find that CAP reform worsens the EU's budgetary situation and does not meet the GATT targets. We quantify support price reductions and quota increases needed to reach the targets.
KW - Agricultural and trade policy reform
KW - Common Agricultural Policy
KW - European Union
KW - Explicit policy modeling
KW - Uruguay Round Agreement
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U2 - 10.1016/S0014-2921(97)00066-4
DO - 10.1016/S0014-2921(97)00066-4
M3 - Article
AN - SCOPUS:0031798406
SN - 0014-2921
VL - 42
SP - 375
EP - 411
JO - European Economic Review
JF - European Economic Review
IS - 2
ER -