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- W2896911203 abstract "Abstract 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%." @default.
- W2896911203 created "2018-10-26" @default.
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- W2896911203 date "2019-01-01" @default.
- W2896911203 modified "2023-10-17" @default.
- W2896911203 title "A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician fleet: A dynamic stochastic general equilibrium approach" @default.
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- W2896911203 doi "https://doi.org/10.1016/j.ocecoaman.2018.10.013" @default.
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