Liberalizing agricultural trade could boost global welfare and food security.
The article aims to improve models used to understand global agricultural trade by linking two types of existing models to get a better picture of how trade affects the economy. By creating a new model based on old data, researchers found ways to enhance the accuracy of the original models. They discovered that it's important to consider all farming activities and that unexpected events could impact agricultural policies. The new model provides straightforward estimates on how changes in agricultural policies can affect people's well-being.