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首页> 外文期刊>Journal of Agricultural Economics >Welfare-at-Risk and Extreme Dependency of Regional Wheat Yields: Implications of a Stochastic CGE Model
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Welfare-at-Risk and Extreme Dependency of Regional Wheat Yields: Implications of a Stochastic CGE Model

机译:区域小麦产量的福利风险和极端依赖性:随机CGE模型的含义

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摘要

Stochastic computable general equilibrium (CGE) models have ignored regional correlations in agricultural yields, assuming random shocks to be independent between regions. This could lead to misinterpretation of simulation outputs which ignore extreme positive or negative harvests at the global scale. We develop a multi-regional CGE model which allows for five types of interregional correlation between wheat yields to analyse the vulnerability of countries against fluctuating international markets, focusing on Value at Risk (VaR) and extreme dependency. We find that global welfare risks could be underestimated by up to 33% if significant interregional correlations in yield shocks are not taken into account. Egypt, Kazakhstan, Ukraine, the former Soviet Union and Northern Africa are particularly vulnerable to global volatilities in terms of economic welfare.
机译:随机可计算一般均衡(CGE)模型忽略了农业产量的区域相关性,假设随机冲击在地区之间独立。 这可能导致模拟输出的误解,这在全球范围内忽略极端正或负收集。 我们开发了一种多区域CGE模型,可以实现小麦产量之间的五种间域相关性,以分析国家对波动的国际市场的脆弱性,重点是风险(var)和极端依赖的价值。 我们发现,如果没有考虑产量震荡的重大关节相关性,全球福利风险最高可低至33%。 埃及,哈萨克斯坦,乌克兰,前苏联和北非尤其容易受到经济福利方面的全球变动。

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