@article{Boulanger:332613,
      recid = {332613},
      author = {Boulanger, Pierre H and Dudu, Hasan and Ferrari, Emanuele  and Philippidis, George},
      title = {The cost of import prohibition for political reason: CGE  analysis of the Russian ban on agri-food products},
      address = {2015},
      year = {2015},
      note = {Presented at the 18th Annual Conference on Global Economic  Analysis, Melbourne, Australia},
      abstract = {In August 2014, Russia imposed a one year import ban on  most agri-food products from countries enforcing  Ukraine-related sanctions against Russia. A computable  general equilibrium (CGE) model is used to simulate effects  of this retaliatory policy shift across the European Union  (EU), Russia and a selection of key trade partners.  Sensitivity analysis of factor mobility is performed to  better capture short term and long term implications of  this import prohibition, while latest trade data are  carefully prepared and exploited. In the short term, due to  high factor immobility, production has very little leeway  to adjust, provoking notable variations in prices which  absorb most of the import ban shock. At EU level, price and  production decrease by about 1.9% and 0.3% respectively,  while in the longer term (if the ban is maintained beyond  one year) these figures amount 1.4% and 1.2% respectively.  Interestingly, results indicate that Russia is the region  with the highest welfare loss (about 3.4 billion euros)  while the EU can recover around 25% of the lost trade  volume with Russia through expansion of exports to other  markets.},
      url = {http://ageconsearch.umn.edu/record/332613},
}