Evaluating the benefits from liberalization : are standard walrassian models relevant ?

Boussard Jean-Marc, Gérard Françoise, Piketty Marie-Gabrielle. 2005. Evaluating the benefits from liberalization : are standard walrassian models relevant ?. 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), pp. 274-290. ISBN 88-7847-051-1 EAAE Seminar. 89, Parme, Italie, 3 February 2005/5 February 2005.

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Autre titre : Evaluer les bénéfices de la libéralisation : les modèles standards walrasiens sont-ils fiables ?

Abstract : 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. (Résumé d'auteur)

Mots-clés Agrovoc : Commerce international, Libéralisation des échanges, Prix, Volatilité, Sucre, Revenu, Secteur agroindustriel, Marché des produits de base, Modèle économétrique, Risque

Mots-clés complémentaires : Modèle d'équilibre général

Classification Agris : E71 - International trade
U10 - Mathematical and statistical methods

Auteurs et affiliations

  • Boussard Jean-Marc
  • Gérard Françoise, CIRAD-TERA-UPR Normes et marchés (FRA)
  • Piketty Marie-Gabrielle, CIRAD-TERA-UPR Normes et marchés (BRA)

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