Industry dynamics under production constraints — The case of the EU dairy sector
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- 作者：Stefan Kerstinga ; stefan.kersting@hu-berlin.de" class="auth_mail" title="E-mail the corresponding authorAuthor Vitae ; Silke Hü ; ttelb ; silke.huettel@uni-rostock.de" class="auth_mail" title="E-mail the corresponding authorAuthor Vitae ; Martin Odeninga ; m.odening@agrar.hu-berlin.de" class="auth_mail" title="E-mail the corresponding authorAuthor Vitae
- 关键词：Dynamic stochastic equilibrium ; Production quota ; Firm entry and exit ; Industry dynamics ; Dairy sector
- 刊名：Economic Modelling
- 出版年：2016
- 出版时间：June 2016
- 年：2016
- 卷：55
- 期：Complete
- 页码：135-151
- 全文大小：1131 K
文摘
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A dynamic stochastic framework is developed that accounts for entry and exit of firms under a sectoral production quota.
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The impact of a production quota on long-run industry dynamics is assessed with respect to the Western German dairy sector.
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We find that a tradable production quota does not necessarily slow down structural change within an industry.
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Farms’ average productivity level under a tradable milk quota regime is higher than in the case without quota.
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The abolishment of the quota regime may lead to a significant price drop.