Agricultural and Biological Sciences
4 years ago

EU Budget Cuts Have Minimal Impact on Agriculture, Consumers Unaffected

RePEc: Research Papers in Economics
Modelling the Common Agricultural Policy. General equilibrium effects of the 2014-2020 budget agreement
Pierre Boulanger, George Philippidis

Paper Summary

The paper discusses how budget cuts in the Common Agricultural Policy (CAP) of the European Union (EU) from 2014-2020 will affect EU and world markets. The researchers used a model called MAGNET to simulate these effects. The results show that the budget cuts are not expected to have significant impacts on the markets due to the current non-distortive nature of the CAP policy.

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