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2011 | 59 | 8 | 802 – 822
Article title

MACROECONOMIC CONSEQUENCES OF A COMMON AGRICULTURAL POLICY BUDGET REDUCTION FOR THE CZECH ECONOMY – A GENERAL EQUILIBRIUM APPROACH

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Languages of publication
EN
Abstracts
EN
The objective of this paper is to quantify the impact of selected scenarios of a Common Agricultural Policy (CAP) budget reduction on the macroeconomic equilibrium of the Czech economy with the use of a dynamic general equilibrium model. The findings show that in the short term, a reduction in direct payments (1st pillar) is more harmful for the economy than the removal of investment subsidies (2nd pillar); this is completely reversed in the long term, in which the removal of investment subsidies leads to a considerably stronger decline in economic growth.
Contributors
  • Česká zemědělská univerzita v Praze, Fakulta ekonomie a manažmentu, Katedra ekonomie, Kamycká 129, 165 21 Praha 6, Czech Republic, kristkova@pef.czu.cz
References
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Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.cejsh-642d5512-f4ee-4024-80d9-e8d033a47108
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