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Fish Stock Endogeneity in a Harvest Function: ‘El Niño’ Effects on the Chilean Jack Mackerel Fishery

Economic Analysis Review

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Title Fish Stock Endogeneity in a Harvest Function: ‘El Niño’ Effects on the Chilean Jack Mackerel Fishery
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Creator Peña-Torres, Julio
Agostini, Claudio
Vergara, Sebastián
 
Description There are several examples of pelagic fisheries that have experienced fishing collapse when facing downward abundance cycles. Improving understanding about pelagic catch’s stock dependence can help avoid new cases of fishing collapse. This paper analyses the possible endogeneity of the fish stock variable in a pelagic fishery harvest function. The harvest function is estimated using panel data and ‘El Niño’ episodes as instrumental variable for the Chilean jack mackerel biomass. This strategy produces consistent 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 jack mackerel biomass.
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Publisher Universidad Alberto Hurtado - Facultad de Economía y Negocios
 
Contributor —
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Date 2010-03-02
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.rae-ear.org/index.php/rae/article/view/73
 
Source Revista de Análisis Económico - Economic Analysis Review; Vol 22, No 2 (2007); 75-99
Revista de Análisis Económico – Economic Analysis Review; Vol 22, No 2 (2007); 75-99
0718-8870
0716-5927
 
Language eng
 
Relation http://www.rae-ear.org/index.php/rae/article/view/73/141