IMPACTS OF THE COMMON AGRICULTURAL POLICY ON INTERNATIONAL WHEAT PRICES
研究了欧盟共同农业政策对国际小麦价格的影响，发现其作用比以往研究认为的要小。
The emergence of the EC as a major exporter of cereals in the 1980s and the escalation of international agricultural trade confrontations emphasize the importance of understanding the effects of EC policy actions. Several important features of the EC wheat market are incorporated in an analytical and empirical model including imperfect substitutability in demand between imports and domestic supplies, the simultaneous import and export of wheat by the EC, the distinct impact of threshold versus intervention policy prices, MCAs, and the imperfect transmission between market and intervention prices. Results indicate that EC policies have a smaller impact on world price than found in previous studies.