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Fish stock endogeneity in a harvest function: "El Niño" effects on the Chilean jack mackerel fishery

Author

Listed:
  • Julio Peña

    (Universidad Alberto Hurtado)

  • Claudio Agostini

    (Ilades-Georgetown y Universidad Alberto Hurtado)

  • Sebastián Vergara

    (ECLAC, United Nations)

Abstract

There are several examples of pelagic fisheries that have experiencedfishing collapse when facing downward abundance cycles. Improvingunderstanding about pelagic catch's stock dependence can help avoid newcases of fishing collapse. This paper analyses the possible endogeneity ofthe fish stock variable in a pelagic fishery harvest function. The harvestfunction is estimated using panel data and "El Niño" episodes as instrumentalvariable for the Chilean jack mackerel biomass. This strategy producesconsistent estimates of the fish biomass coefficient. The paper makes two contributions. First, it corrects for endogeneity of the fish stock variable,an issue often underestimated in empirical fishery economics. Secondly,it shows that "El Niño" episodes have negative effects on the Chilean jackmackerel biomass.

Suggested Citation

  • Julio Peña & Claudio Agostini & Sebastián Vergara, 2007. "Fish stock endogeneity in a harvest function: "El Niño" effects on the Chilean jack mackerel fishery," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 22(2), pages 75-99, December.
    • Handle: RePEc:ila:anaeco:v:22:y:2007:i:2:p:75-99
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    Citations

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    Cited by:

    1. Vincent Martinet & Julio Peña-Torres & Michel Lara & Hector Ramírez C., 2016. "Risk and Sustainability: Assessing Fishery Management Strategies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 683-707, August.
    2. Julio Peña Torres & Mabyr Valderrama, 2008. "Fishing Location decisions in the Chilean-Transzonal Jack Mackerel Fishery," ILADES-UAH Working Papers inv217, Universidad Alberto Hurtado/School of Economics and Business.
    3. Nicolas Sanz & Bassirou Diop & Fabian Blanchard & Luis Lampert, 2017. "On the influence of environmental factors on harvest: the French Guiana shrimp fishery paradox," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 19(2), pages 233-247, April.

    More about this item

    Keywords

    El Niño Phenomenon; Endogenous Biomass in a Harvest Function; Instrumental Variable Estimation; Pelagic Fisheries;
    All these keywords.

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L79 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Other

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