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General Equilibrium Analysis of Regulation Cost Derived from Reinforced Food Information Labelling System

  • Journal of Regulation Studies
  • 2011, 20(1), pp.63-88
  • Publisher : 한국규제학회
  • Research Area : Social Science > Public Administration

Bae Jeong Hwan 1

1전남대학교

Accredited

ABSTRACT

This study aims at investigating how fortified food information labelling system (FILS) may affect output and demand of food and relevant sectors, consumer welfare, and GDP employing a computable general equilibrium (CGE) model. Although there are a number of studies on direct cost analysis on food due to the FILS or consumer gains from improved information on food, studies on a CGE approach on FILS have not been found frequently. When external shocks which reflect increases in production costs due to the FILS are imposed on input cost structure of food sectors, simulation results show that output of ice cream, Ginseng, and meat processing sectors declined the most relative to other food sectors, while that of labeling, packaging, transport, and service sectors incremented slightly. GDP and consumer price index were barely affected, but consumer welfare diminished considerably by 21.3~118.7 billion Korean won. Hence the simulation outcome shows that cost increases due to the FILS was transferred to consumer mostly. Consequently, the regulatory agent who considers to introduce a FILS should take accont of not only regulation costs but also consumer information gains.

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