@article{Ancev:280233,
      recid = {280233},
      author = {Ancev, Tiho},
      title = {The role of the commonwealth environmental water holder in  annual water allocation markets},
      journal = {Australian Journal of Agricultural and Resource Economics},
      address = {2015-01},
      number = {428-2018-4546},
      year = {2015},
      abstract = {In recent years, the Government of Australia has bought  back a significant amount of water entitlements in the  Murray-Darling Basin (MDB) through its Commonwealth  Environmental Water Holder (CEWH) agency. This has been a  welcome development, as it is an efficient way of securing  water for the environment in the basin. However, the  question of how to best manage water holdings held by the  government is as yet unresolved. In particular, the  question of whether and how should the CEWH engage in water  markets is still grappling the government and academia  alike. This paper addresses that question by evaluating  total benefits to a range of water users, including the  environment, under a variety of hydro-climatic conditions.  This is approached through running simulations based on  environmental benefit function that varies with prevailing  hydro-climatic conditions. The findings indicate that the  benefits are greater when CEWH actively participates in  annual water allocation market and that such participation  enables the CEWH to secure most water when it is needed the  most by the environment. This suggests that policy should  encourage the CEWH to further explore opportunities to  engage with the water markets to the benefit of communities  and the environment in the MDB.},
      url = {http://ageconsearch.umn.edu/record/280233},
      doi = {https://doi.org/10.22004/ag.econ.280233},
}