A Sectoral Analysis of Agricultural Trade Liberalization

Complete agricultural trade liberalization between the United States and the European Union is examined with respect to the agricultural sector. A static, partial equilibrium model, distinguishing among the European Union, the United States, and a politically passive rest of the world, is used to simulate agricultural policy removal. The results of this research reveal how European Union and United States adoption of free trade affects domestic and world prices, production, consumption, self-sufficiency, and welfare