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The purpose of this paper is to analyze theoretically and empirically spillover effects of fishery quota on related markets through their demand curves. Theoretically, the spillover effects of a change in quota can be captured through the directly distorted market alone by computing surpluses associated with the new and old equilibrium. This study estimates empirically demand functions in the context of both the partial equilibrium and general equilibrium. The spillover effect can be computed from the difference between these two estimates. The econometric methodology to estimate the demand curves in the context of general equilibrium is presented and illustrated. The empirical result of fishery markets shows that spillover effects transmitted across other markets are not small and approximately account for 43.3% of the partial equilibrium welfare effects.
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참고문헌 (16)
참고문헌 신청
Bank of Korea / 1970 / Nation Income Account, 1970－2013
Canning, P. N. / 1996 / Measuring Welfare Impacts from Equilibrium Supply and Demand Curves: An Antidumping Case Study / American Journal of Agricultural Economics 78:1026~1033
Granger, C. W. J. / 1988 / Causality, Cointegration, and Control / Journal of Economic Dynamics and Control 12:551~559
Granger, C. W. J. / 2009 / The Methodology and Practice of Econometrics: A Festschrift in Honour of David F. Hendry / Oxford University Press :59~87
Harberger, A. C. / 1971 / Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay / Journal of Economic Literature 9:785~797
Canning, P. N. / 1996 / Measuring Welfare Impacts from Equilibrium Supply and Demand Curves: An Antidumping Case Study / American Journal of Agricultural Economics 78:1026~1033
Granger, C. W. J. / 1988 / Causality, Cointegration, and Control / Journal of Economic Dynamics and Control 12:551~559
Granger, C. W. J. / 2009 / The Methodology and Practice of Econometrics: A Festschrift in Honour of David F. Hendry / Oxford University Press :59~87
Harberger, A. C. / 1971 / Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay / Journal of Economic Literature 9:785~797
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