Size and Distribution of Research Benefits in the Australian Dairy Industry

Esther Liu, Katherine A. Tarrant, Christie K.M. Ho, Bill Malcolm and Garry R. Griffith

No 124326, 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia from Australian Agricultural and Resource Economics Society

Abstract: An equilibrium displacement model of the Australian dairy industry is being developed for estimating the net benefits from dairy research undertaken by DPI Victoria. In this initial version, the dairy industry is represented by a system of aggregate demand and supply relationships for two input sectors, raw milk and milk processing inputs, and three output sectors, export and domestic manufactured milk and domestic fluid milk. Quantities and prices are calibrated in terms of milk equivalents. The vertical and horizontal disaggregation of the industry in the model enables the distribution of benefits from farmers to consumers to be assessed. The results for a 1% hypothetical shift in the supply curve in the farm and processing sectors are presented. Sensitivity analysis is also conducted for the uncertain elasticity values specified in the model.

Keywords: Livestock Production/Industries; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 20
Date: 2012-02
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare12:124326

DOI: 10.22004/ag.econ.124326

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