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Accounting for price responses in economic evaluation of climate impacts for a fishery
حسابداری برای پاسخ های قیمت در ارزیابی اقتصادی تاثیرات اقلیمی برای ماهیگیری-2021 The present study evaluates the economic impacts of fluctuations in anchovy (Engraulis spp.) catch in Gyeong-
Nam (GN) province, South Korea, arising due to warming seawater, accounting for the effects of the re-
sponses of the anchovy price. It combines an inter-regional input-output (IRIO) model of two regions (i.e., GN
province and all other provinces combined) with a simultaneous equation system (SES) of anchovy supply and
demand functions estimated to make projections of the price and quantity of anchovies based on two greenhouse
gas (GHG) concentration scenarios (i.e., representative concentration pathway (RCP) 4.5 and 8.5). Results
indicate that estimates of the economic impacts for the two regions will be biased if we consider only the quantity
(harvest) change when computing the economic impacts without accounting for the effects of the price re-
sponses. None of the previous IO-based economic impact analyses of fisheries account for the price effects
induced by a quantity shock. This study fills this critical void by considering such effects. keywords: تغییرات اقلیمی | ماهیگیری | کره جنوبی | پاسخ قیمت | مدل ورودی-خروجی بین منطقه ای | Climate change | Anchovy fishery | South Korea | Price response | Inter-regional input-output model |
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