Changing the total allowable catch (TAC) decision-making framework: A central bank of fishes?

• Main Authors: Astorkiza Kepa, del Valle Ikerne
• Format: Article
• Language: English
• Published: Economists' Association of Vojvodina 2013-01-01
• Series: Panoeconomicus
• Subjects: Common Fisheries Policy (CFP); Individual Transferable Quota(ITQ); European Union (EU); Central Bank-like of Fishes (CBF); International Council for the Exploration of the Sea (ICES)
• Online Access: http://www.doiserbia.nb.rs/img/doi/1452-595X/2013/1452-595X1303415A.pdf
• ISSN: 1452-595X

The difficulties that the current model of TAC regulation generates in the current system of EU fisheries are analyzed. Although the production structure of the TAC has been set up in collaboration with ICES, the determination process lacks short-term contributions from the field of biology. Once these inputs undergo the decision process of the EU, the resulting TACs are significantly biased in relation to the initial recommendations. To solve this problem, a different institutional model with the addition of a Central Bank-like of Fishes is proposed.