Budgetary constraints and international realities in the CAP

Meester, G.

doi:10.1093/erae/14.1.37

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“…It was the reversal towards dollar devaluation after 1985 which made Community budgeting a matter of greater severity; there was a view expressed by the Commission that a 10% depreciation would itself raise CAP costs, on balance, by up to 1 billion ECU. Hence quite apart from variability in world agricultural markets per se (one immediately thinks of the 1988 US drought), the volatility of the 'float' as between dollar and ECU means that the power to control internal CAP price levels and budget costs simultaneously is curtailed (Meester, 1987).…”

Section: Peters(l980) and Parrisandpeters(1983)mentioning

confidence: 99%

Agriculture and the Macro‐economy: Presidential Address

Peters¹

1991

J Agricultural Economics

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Agricultural economics is sometimes criticised for being microcentred. We should not apologise; colleagues who study industrial organisation or many aspects of public sector economics are neither more nor less guilty. The fact remains, however, that agriculture, like all sectors, operates within a macro‐economic framework and there is a growing spate of literature focusing on that broader perspective. It runs in two directions: the farming consequences of macro‐economic developments where much of the attention focuses on exchange rates and interest rates, and the effects of agricultural policies on the economy at large. The objective here is to review the situation. Topical issues considered range from the value of the dollar and the operation of the European exchange‐rate, mechanism, to controversies surrounding the recent GATT negotiations.

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Section: Peters(l980) and Parrisandpeters(1983)mentioning

confidence: 99%

Agriculture and the Macro‐economy: Presidential Address

Peters¹

1991

J Agricultural Economics

View full text Add to dashboard Cite

show abstract

Budgetary constraints and international realities in the CAP

Cited by 1 publication

References 0 publications

Agriculture and the Macro‐economy: Presidential Address

Agriculture and the Macro‐economy: Presidential Address

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