While there are many ways to ring in the New Year, a probable suspect is a bottle of Champagne or sparkling wine. According to Neilson, in 2016, over 1 billion dollars was spent on wine for the holiday season between December 20 – January 2.
In a new podcast based on two Featured Articles from the Applied Economics Perspectives & Policy (AEPP), the Managing Editor of AEPP, Craig Gundersen from the University of Illinois interviews 2 authors of articles discussing the economics of wine. An author of “The Value of Terroir: A Historical Analysis of the Bordeaux and Champagne Geographical Indications,” Catherine Haeck from Université du Québec à Montréal and “Wine Regulations” by Giulia Meloni from University of Leuven, were interviewed.
Haeck says, “the world’s oldest geographical identifications were implemented in the wine sector, in France. Our study shows that this helped French wine producers in the Champagne region gain a significant price premium of more than 60 percent.”
Meloni focuses her research on the wine regulations and states, “we provide an analysis of wine regulations in an international and historical comparative perspective. Wine is an excellent sector to study government interventions, because for centuries wine markets have been subject to many regulations that differ greatly within and between countries. ”
If you are interested in listening to the podcast, visit: https://players.brightcove.net/1611106596001/default_default/index.html?videoId=6116229320001
To speak with either of the authors featured in the podcast, please contact Allison Scheetz in the AAEA Business Office.
ABOUT AAEA: Established in 1910, the Agricultural & Applied Economics Association (AAEA) is the leading professional association for agricultural and applied economists, with 2,500 members in more than 60 countries. Members of the AAEA work in academic or government institutions as well as in industry and not-for-profit organizations, and engage in a variety of research, teaching, and outreach activities in the areas of agriculture, the environment, food, health, and international development. The AAEA publishes two journals, the American Journal of Agricultural Economics and Applied Economic Perspectives & Policy, as well as the online magazine Choices and the online open access publication series Applied Economics Teaching Resources. To learn more, visit www.aaea.org.