An Assessment of the Luxembourg Agreement on the Spanish Agricultural Sector: an Econometric Model
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The main aim of this paper is to build and validate an econometric model for the Spanish agrifood
sector that allows for projection and policy simulation under alternative scenarios. We
developed an econometric, dynamic, multi-product partial equilibrium commodity model
where policy instruments were explicitly introduced in order to allow quantitative analysis of
CAP reform scenarios. The Spanish Econometric Simulation of Agricultural Policies (SESAP)
model results indicate that the new decoupling measure introduced by the Luxembourg
Agreement have mainly impact on the sectors more linked to the new instrument, cereals, oilseed,
cattle and beef meat and, sheep and lamb meat. Moreover, only changes in area harvested,
number of animals and production for those products have been found.