Evaluating the benefits from liberalization : are standard walrassian models relevant ?
While measuring the benefits from liberalisation is obviously important, from a theoretical as well as from a political point of view, one may question the validity of the presently widespread Walrassian approach. The latter does not take account of the fact that supply is just as must (and perhaps more) risk as (average) price responsive. Now, it turns out that if (contrary to the strong versions of the "rational expectation hypothesis"), producers do not take their decisions on the basis of equilibrium prices only, then the market, instead of equilibrium, can generate very harmful seemingly random fluctuations. These considerations are incorporated into a partial equilibrium model of the world sugar industry, and a GTAP style general equilibrium model of the world economy. In both cases, liberalisation, preventing price stabilisation policies, results in more instability, and a decrease in welfare. Such an outcome is specific of agriculture and other low price elasticity commodities.
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Monte Universita Parma (MUP)
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Subjects: | E71 - Commerce international, U10 - Informatique, mathématiques et statistiques, commerce international, libéralisation des échanges, prix, volatilité, sucre, revenu, secteur agroindustriel, marché des produits de base, modèle économétrique, risque, http://aims.fao.org/aos/agrovoc/c_3919, http://aims.fao.org/aos/agrovoc/c_7853, http://aims.fao.org/aos/agrovoc/c_6178, http://aims.fao.org/aos/agrovoc/c_24425, http://aims.fao.org/aos/agrovoc/c_7498, http://aims.fao.org/aos/agrovoc/c_3820, http://aims.fao.org/aos/agrovoc/c_208, http://aims.fao.org/aos/agrovoc/c_1781, http://aims.fao.org/aos/agrovoc/c_10531, http://aims.fao.org/aos/agrovoc/c_6612, |
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dig-cirad-fr-5283262024-01-28T13:53:09Z http://agritrop.cirad.fr/528326/ http://agritrop.cirad.fr/528326/ Evaluating the benefits from liberalization : are standard walrassian models relevant ? Boussard Jean-Marc, Gérard Françoise, Piketty Marie-Gabrielle. 2005. In : Modelling agricultural policies : state of the art and new challenges : Proceedings of the 89th European seminar of the European Association of Agricultural Economists, Parma (Italia), February 3-5, 2005. Arfini Filippo (ed.). EAAE, Universita degli Studi di Parma. Parme : Monte Universita Parma (MUP), 274-290. ISBN 88-7847-051-1 EAAE Seminar. 89, Parme, Italie, 3 Février 2005/5 Février 2005. Evaluating the benefits from liberalization : are standard walrassian models relevant ? Boussard, Jean-Marc Gérard, Françoise Piketty, Marie-Gabrielle eng 2005 Monte Universita Parma (MUP) Modelling agricultural policies : state of the art and new challenges : Proceedings of the 89th European seminar of the European Association of Agricultural Economists, Parma (Italia), February 3-5, 2005 E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 While measuring the benefits from liberalisation is obviously important, from a theoretical as well as from a political point of view, one may question the validity of the presently widespread Walrassian approach. The latter does not take account of the fact that supply is just as must (and perhaps more) risk as (average) price responsive. Now, it turns out that if (contrary to the strong versions of the "rational expectation hypothesis"), producers do not take their decisions on the basis of equilibrium prices only, then the market, instead of equilibrium, can generate very harmful seemingly random fluctuations. These considerations are incorporated into a partial equilibrium model of the world sugar industry, and a GTAP style general equilibrium model of the world economy. In both cases, liberalisation, preventing price stabilisation policies, results in more instability, and a decrease in welfare. Such an outcome is specific of agriculture and other low price elasticity commodities. conference_item info:eu-repo/semantics/conferenceObject Conference info:eu-repo/semantics/publishedVersion http://agritrop.cirad.fr/528326/1/document_528326.pdf application/pdf Cirad license info:eu-repo/semantics/restrictedAccess https://agritrop.cirad.fr/mention_legale.html http://catalogue-bibliotheques.cirad.fr/cgi-bin/koha/opac-detail.pl?biblionumber=187845 http://catalogue-bibliotheques.cirad.fr/cgi-bin/koha/opac-detail.pl?biblionumber=189970 |
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E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 |
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E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 Boussard, Jean-Marc Gérard, Françoise Piketty, Marie-Gabrielle Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
description |
While measuring the benefits from liberalisation is obviously important, from a theoretical as well as from a political point of view, one may question the validity of the presently widespread Walrassian approach. The latter does not take account of the fact that supply is just as must (and perhaps more) risk as (average) price responsive. Now, it turns out that if (contrary to the strong versions of the "rational expectation hypothesis"), producers do not take their decisions on the basis of equilibrium prices only, then the market, instead of equilibrium, can generate very harmful seemingly random fluctuations. These considerations are incorporated into a partial equilibrium model of the world sugar industry, and a GTAP style general equilibrium model of the world economy. In both cases, liberalisation, preventing price stabilisation policies, results in more instability, and a decrease in welfare. Such an outcome is specific of agriculture and other low price elasticity commodities. |
format |
conference_item |
topic_facet |
E71 - Commerce international U10 - Informatique, mathématiques et statistiques commerce international libéralisation des échanges prix volatilité sucre revenu secteur agroindustriel marché des produits de base modèle économétrique risque http://aims.fao.org/aos/agrovoc/c_3919 http://aims.fao.org/aos/agrovoc/c_7853 http://aims.fao.org/aos/agrovoc/c_6178 http://aims.fao.org/aos/agrovoc/c_24425 http://aims.fao.org/aos/agrovoc/c_7498 http://aims.fao.org/aos/agrovoc/c_3820 http://aims.fao.org/aos/agrovoc/c_208 http://aims.fao.org/aos/agrovoc/c_1781 http://aims.fao.org/aos/agrovoc/c_10531 http://aims.fao.org/aos/agrovoc/c_6612 |
author |
Boussard, Jean-Marc Gérard, Françoise Piketty, Marie-Gabrielle |
author_facet |
Boussard, Jean-Marc Gérard, Françoise Piketty, Marie-Gabrielle |
author_sort |
Boussard, Jean-Marc |
title |
Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
title_short |
Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
title_full |
Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
title_fullStr |
Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
title_full_unstemmed |
Evaluating the benefits from liberalization : are standard walrassian models relevant ? |
title_sort |
evaluating the benefits from liberalization : are standard walrassian models relevant ? |
publisher |
Monte Universita Parma (MUP) |
url |
http://agritrop.cirad.fr/528326/ http://agritrop.cirad.fr/528326/1/document_528326.pdf |
work_keys_str_mv |
AT boussardjeanmarc evaluatingthebenefitsfromliberalizationarestandardwalrassianmodelsrelevant AT gerardfrancoise evaluatingthebenefitsfromliberalizationarestandardwalrassianmodelsrelevant AT pikettymariegabrielle evaluatingthebenefitsfromliberalizationarestandardwalrassianmodelsrelevant |
_version_ |
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