This paper uses a model with transaction costs and imperfect competition in the land market to analyze the efficiency and welfare effects of land reforms. We show that removing only one imperfection may have very different efficiency and welfare effects than would otherwise result from reforms...

Direct payments (DP) in the EU-27 were introduced as the central element of the 2003 CAP reform and are implemented in different models. The 2013 CAP reform will change both the implementation of the DP and their budget. This study assesses the possible effects of the DP reform proposals on EU...

Economic theory, as well as empirical findings, suggest that the way in which agricultural support is provided has an influence on land markets, because payments capitalise to some degree into land values, affecting both the sale and rental price of land. The present paper analyses how the...

Economic theory, as well as empirical findings, suggest that the way in which agricultural support is provided has an influence on land markets, because payments capitalise to some degree into land values, affecting both the sale and rental price of land. The present paper analyses how the...

Decoupled direct payments were introduced in the EU in form of the Single Payment Scheme (SPS) in 2005. The 2013 CAP reform changed both the implementation of the SPS and its budget. We assess the possible effects of the 2013 CAP reform on EU land markets; in particular the capitalization of the...