Developing Policy Relevant Agrifood Models

The opportunities and challenges of incorporating accurate policy representations into institutional partial equilibrium commodity models were investigated. Six issues are raised: commodity space definition, vertical linkages, assessing market power, the changing nature of government support, trade...

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Bibliographic Details
Published in:Journal of agricultural and applied economics 2004-08, Vol.36 (2), p.369-382
Main Authors: Rude, James I., Meilke, Karl D.
Format: Article
Language:English
Subjects:
Agribusiness
Agricultural commodities
Agricultural production
Agriculture
Case studies
commodity models
Consumers
Consumption
econometric models
Equilibrium
F13
Food safety
GDP
Gross Domestic Product
International organizations
Invited Paper Sessions
issues and policy
Market potential
market power
policy
product attributes
Product differentiation
products and commodities
Q17
Q18
Supply chains
Trade policy
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Summary:The opportunities and challenges of incorporating accurate policy representations into institutional partial equilibrium commodity models were investigated. Six issues are raised: commodity space definition, vertical linkages, assessing market power, the changing nature of government support, trade policy, and data requirements. The importance of product attributes and different approaches to modeling product differentiation are considered. A case study of food safety is used to bring together the major issues. Although institutional commodity models still have a role to play, we advocate the use of smaller idiosyncratic models to address many of the relevant policy questions in a rapidly changing sector.
ISSN:1074-0708
2056-7405
1074-0708
DOI:10.1017/S1074070800026651