Boulanger, Pierre , Philippidis, George
No
J. Agric. Econ.
Article
Científica
1.545
0.977
01/09/2015
000360017000013
This study suggests UK equivalent variation (EV) gains of Euro8.9billion on withdrawal from the EU budget. Factoring in associated trade facilitation costs from the loss of UK access to the single market, annual UK EV losses could be as high as Euro14.0billion, with the EU-28 facing a corresponding loss of Euro40.4billion. Interestingly, the extrapolated UK gain arising from withdrawal from the CAP' component of the EU budget exceeds estimated lower and upper bound trade facilitation costs exclusively on EU agrofood trade. Accordingly, the UK should realistically remain as an EU member, although continue to lobby for reductions in the CAP budget.
Common agricultural policy; computable general equilibrium; trade; United Kingdom; European Union