Removal of farm subsidies in a regional economy: a computable general equilibrium analysis

Francisco Javier de Miguel and Antonio Manresa

Applied Economics, 2008, vol. 40, issue 16, 2109-2120

Abstract: The purpose of this article is to analyse the importance of farm subsidies for the Extremadura economy. To this end, a computable general equilibrium model for this region is presented, with which we analyse the economic effects caused by a simulated removal of these subsidies. Different scenarios involving the labour market rigidities and tax compensation are considered. Model parameters are determined by the procedure known as calibration, using a social accounting matrix constructed for this economy. The results clearly show the negative effects that this elimination would produce on the main micro and macroeconomic variables.

Date: 2008
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DOI: 10.1080/00036840600949371

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