Purpose: The purpose of this paper is to propose a novel way of determining optimal capital structure, applied to sub-groups of Swiss dairy farms from 2003 to 2014. Optimization of capital structure is carried out with respect to two performance indicators from an economic value added...

This paper discusses an approach to implement output quotas in the GTAP model which permits an endogenous adjustment of both the supplied quantity and the quota rent. Since the quota rent is interpreted as additional earnings of the factors used no change of the worldwide GTAP data base is...