The place of agriculture in the development of Poland and Hungary: Lessons from a computable general equilibrium model with risk considerations
Résumé
In order to discuss the place of agriculture in growth, general equilibrium models of Hungarian and Polish economies are built up. Because price stabilisation policies are at stake in these countries, emphasis is put on introducing risk consideration into the equilibrium. Because growth is an important issue, the models are made recursive. It is shown that many conclusions which seem firmly founded when risk is not considered in models must be revisited when it is.