ECONOMIC IMPLICATIONS OF THE AUSTRALIA-U.S. FREE TRADE AGREEMENT FOR U.S. DAIRY MARKETS AND DOMESTIC DAIRY FARM PROGRAMS Report as inadecuate




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We develop a simulation model to analyze the effects on U.S. milk markets of an Australia-U.S. free trade agreement. An important contribution to the literature is the derivation of explicit supply and demand relationships for milk components, which allows an analysis of long-term production, consumption, and trade patterns that is not tied to specific products. Simulations indicate that increased imports from Australia, resulting from bilateral trade liberalization, would result in modest reductions in U.S. milk prices and production.

Subject(s): International Relations/Trade

Issue Date: 2004

Publication Type: Conference Paper/ Presentation

PURL Identifier: http://purl.umn.edu/20164

Total Pages: 42

Series Statement: Selected Paper

Record appears in: American Agricultural Economics Association (AAEA) > 2004 Annual meeting, August 1-4, Denver, CO





Author: Alston, Julian M. ; Sumner, Daniel A. ; Balagtas, Joseph Valdes ; Brunke, Henrich

Source: http://ageconsearch.umn.edu/record/20164?ln=en







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