A model of the world's wine markets

Glyn Wittwer; Nick Berger; Kym Anderson

doi:10.1016/S0264-9993(01)00095-5

A model of the world's wine markets

Glyn Wittwer, Nick Berger, Kym Anderson

Research output: Contribution to journal › Article

Abstract

This paper describes the theoretical and empirical structure of the World Multisectoral Wine Model, which uses some of the features of general equilibrium models. The model is disaggregated into the expanding premium and shrinking non-premium segments of the wine market. To illustrate its usefulness, we model the impact on the global market of the projected rapid premium supply expansion in New World wine production to 2005. The results show supply-induced falls in producer prices of New World producers are dampened or even reversed in the projection period by a growing consumer preference globally for premium wine.

Original language	English
Pages (from-to)	487-506
Journal	Economic Modelling
Volume	20
Issue number	3
DOIs	https://doi.org/10.1016/S0264-9993(01)00095-5
Publication status	Published - 2003

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title = "A model of the world's wine markets",

abstract = "This paper describes the theoretical and empirical structure of the World Multisectoral Wine Model, which uses some of the features of general equilibrium models. The model is disaggregated into the expanding premium and shrinking non-premium segments of the wine market. To illustrate its usefulness, we model the impact on the global market of the projected rapid premium supply expansion in New World wine production to 2005. The results show supply-induced falls in producer prices of New World producers are dampened or even reversed in the projection period by a growing consumer preference globally for premium wine.",

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AB - This paper describes the theoretical and empirical structure of the World Multisectoral Wine Model, which uses some of the features of general equilibrium models. The model is disaggregated into the expanding premium and shrinking non-premium segments of the wine market. To illustrate its usefulness, we model the impact on the global market of the projected rapid premium supply expansion in New World wine production to 2005. The results show supply-induced falls in producer prices of New World producers are dampened or even reversed in the projection period by a growing consumer preference globally for premium wine.

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A model of the world's wine markets

Abstract

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