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 |
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Pages (from-to) | 487-506 |
Journal | Economic Modelling |
Volume | 20 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2003 |