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Tax Reform and Land-Using Sectors in the U.S. Economy: A General Equilibrium Analysis

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  • Roy Boyd
  • David H. Newman

Abstract

A computable general equilibrium model of the U.S. economy is used to assess the effects of the Tax Reform Act of 1986 on land-using sectors (forestry and three classes of agriculture). The model's components include twelve production sectors, six consumer groups, a balanced-budget government sector, and a zero surplus foreign sector. In relative terms, Tax Reform reduces total value added output in land-using sectors to a greater extent than other sectors in the economy. Experiments are also performed comparing partial and general equilibrium specifications of the economy and the impact of choice of input substitution elasticities.

Suggested Citation

  • Roy Boyd & David H. Newman, 1991. "Tax Reform and Land-Using Sectors in the U.S. Economy: A General Equilibrium Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(2), pages 398-409.
    • Handle: RePEc:oup:ajagec:v:73:y:1991:i:2:p:398-409.
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    File URL: http://hdl.handle.net/10.2307/1242723
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    Cited by:

    1. Decaluwe, Bernard & Patry, André & Savard, Luc, 1997. "Quand l'eau n'est plus un don du ciel: un MEGC appliqué au Maroc," Cahiers de recherche 9716, Université Laval - Département d'économique.
    2. Boyd, Roy & Doroodian, Khosrow & Power, Amy, 1996. "The impact of removing the sugar quota on the U.S. economy: A general equilibrium analysis," Journal of Policy Modeling, Elsevier, vol. 18(2), pages 185-201, April.
    3. Chang K. Seung & Thomas R. Harris & Jeffrey E. Eglin & Noelwah R. Netusil, 1999. "Application of a Computable General Equilibrium (CGE) Model to Evaluate Surface Water Reallocation Policies," The Review of Regional Studies, Southern Regional Science Association, vol. 29(2), pages 139-155, Fall.
    4. Barry J. Seldon & Roy G. Boyd, 1995. "A General Equilibrium Analysis of a Reduction in Capital Gains Taxes," Public Finance Review, , vol. 23(2), pages 193-216, April.
    5. Gan, Jianbang, 2004. "Effects of China's WTO accession on global forest product trade," Forest Policy and Economics, Elsevier, vol. 6(6), pages 509-519, October.
    6. Michael Leblanc & James Hrubovcak & Ron Durst, 1999. "Changing fiscal federalism in the United States: effects on agriculture and food consumption," Applied Economics, Taylor & Francis Journals, vol. 31(11), pages 1373-1382.

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