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A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician fleet: A dynamic stochastic general equilibrium approach

Identificadores del recurso

Ocean & Coastal Management, 167, 137-144 (2019)

09645691

http://hdl.handle.net/11093/1192

https://dx.doi.org/10.1016/j.ocecoaman.2018.10.013

Procedencia

Ficha

Título:: A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician fleet: A dynamic stochastic general equilibrium approach
Tema:: 5312.01 Agricultura, Silvicultura, Pesca
Descrición:: What would have happened if a relatively looser fisheries policy had been implemented in the European Union (EU)? Using Bayesian methods a Dynamic Stochastic General Equilibrium (DSGE) model is estimated to assess the impact of the European Common Fisheries Policy (CFP) on the economic performance of a Galician (north-west of Spain) fleet highly dependant on the EU Atlantic southern stock of hake. Our counterfactual analysis shows that if a less effective CFP had been implemented during the period 1986–2012, fishing opportunities would have increased, leading to an increase in labour hours of 4.87%. However, this increase in fishing activity would have worsened the profitability of the fleet, dropping wages and rental price of capital by 6.79% and 0.88%, respectively. Welfare would also be negatively affected since, in addition to the increase in hours worked, consumption would have reduced by 0.59%
Idioma:: English
Relación:: info:eu-repo/grantAgreement/EU/H2020/634495
Autor/Produtor:: Colla-De-Robertis, Esteban; Da Rocha Álvarez, José María; García Cutrín, Francisco Javier; Gutiérrez, María José; Prellezo, Raúl
Editor:: Ocean & Coastal Management; Fundamentos da análise económica e historia e institucións e; Matemáticas; ECOSOT: Economía, Sociedade e Territorio
Dereitos:: openAccess
Data:: 2019-03-01T11:01:31Z; 2021-01-31T00:15:05Z; 2019-01; 2019-02-27T06:45:44Z
Tipo de recurso:: article

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  11. < dc:description > What would have happened if a relatively looser fisheries policy had been implemented in the European Union (EU)? Using Bayesian methods a Dynamic Stochastic General Equilibrium (DSGE) model is estimated to assess the impact of the European Common Fisheries Policy (CFP) on the economic performance of a Galician (north-west of Spain) fleet highly dependant on the EU Atlantic southern stock of hake. Our counterfactual analysis shows that if a less effective CFP had been implemented during the period 1986–2012, fishing opportunities would have increased, leading to an increase in labour hours of 4.87%. However, this increase in fishing activity would have worsened the profitability of the fleet, dropping wages and rental price of capital by 6.79% and 0.88%, respectively. Welfare would also be negatively affected since, in addition to the increase in hours worked, consumption would have reduced by 0.59% </ dc:description >
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  14. < dc:title > A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician fleet: A dynamic stochastic general equilibrium approach </ dc:title >
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  29. < dc:computerCitation > pub_title=Ocean & Coastal Management|volume=167|journal_number=|start_pag=137|end_pag=144 </ dc:computerCitation >
  30. < dc:references > Da-Rocha, Garc ́ıa-Cutr ́ın and Gutie ́rrez acknowledge fi- nancial support from the European Commission (MINOUW, project H2020-SFS-2014-2, number 634495) and the Span- ish Ministry of the Economy, Industry and Competitiveness (ECO2016-78819-R, AEI/FEDER, UE). Prellezo acknowl- edges financial support from the Basque Government (De- partment of Economic Development and Infrastructures of the Basque Government). Da-Rocha and Garc ́ıa-Cutr ́ın also ac- knowledge financial support from Xunta de Galicia (GRC 2015/014 and ECOBAS). Gutie ́rrez also acknowledges finan- cial support from the Basque Government (MacLab IT-793-13). This publication reflects the views of the authors only and none of the funding parties may be held liable for any use which may be made of the information contained therein. </ dc:references >
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