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Dynamic Adjustment in the Japanese Livestock Industry Under Beef Import Liberalization

Thomas Wahl (), Dermot Hayes () and Gary Williams

American Journal of Agricultural Economics, 1991, vol. 73, issue 1, 118-132

Abstract: Dynamic adjustment of Japanese livestock markets is analyzed under two alternative import policies: the 1988 Japanese Beef Market Access Agreement (BMAA) and complete liberalization of Japanese beef import policies. Modeling problems associated with these policies include the change from a quota to a tariff, the incorporation of a meat demand system derived from utility-maximizing behavior into a livestock policy model, complementarity, and changes in the degree of producer supply responsiveness under alternative policies. An econometric model of the Japanese livestock industry is used to simulate and compare the impacts of the two policies from 1988 through 1997.

Date: 1991
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