Published Papers (selected)

The social cost of fishery subsidy reforms with F.J. Garcia-Cutrin, R. Prellezo and J. Sempere, in  Marine Policy, Volume 83, September 2017, Pages 236-242,

This paper analyzes the impact of reducing fisheries subsidies in a general equilibrium model for a fishery with heterogeneous vessels. It considers the impact of the stock effect, which determines the participation of vessels in a likely increased stock abundance. In equilibrium, the productivity of the fleet is endogenous as it depends on the stock of fish along the equilibrium path. The model concludes that any impact of a subsidy drop will depend on the stock effect. If that effect is large, fishing firms will benefit from the stock recovery and the elimination of the subsidy will increase future returns on investment. The model is particularised to industrial shrimp fisheries in Mexico. It is shown that the complete elimination of a subsidy increases biomass, capitalisation, marginal productivity, and consumption and reduces inequality when the effect of the induced increase in the stock is considered. However, if that effect is not considered, capital and consumption decrease, and inequality and hence, the social costs of a subsidy drop, increase.

Endogenous Fishing Mortalities: a State-Space Bioeconomic Model with F.J. García-Cutrín, M.J. Gutiérrez and E. Jardim), in  ICES Journal of Marine Science, Volume 74, Issue 9, 1 December 2017, Pages 2437–2447,

A methodology that endogenously determines catchability functions that link fishing mortality with contemporaneous stock abundance is presented. We consider a stochastic age-structured model for a fishery composed by a number of fishing units (fleets, vessels or métiers) that optimally select the level of fishing effort to be applied considering total mortalities as given. The introduction of a balance constrain which guarantees that total mortality is equal to the sum of individual fishing mortalities optimally selected, enables total fishing mortality to be determined as a combination of contemporaneous abundance and stochastic processes affecting the fishery. In this way, future abundance can be projected as a dynamic system that depends on contemporaneous abundance. The model is generic and can be applied to several issues of fisheries management. In particular, we illustrate how to apply the methodology to assess the floating band target management regime for controlling fishing mortalities which is inspired in the new multi-annual plans. Our results support this management regime for the Mediterranean demersal fishery in Northern Spain.