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...

In this paper we develop a partial equilibrium model for agricultural sector to assess the impact of CEE integration with the EU on welfare and income distribution of agricultural factors. The modelling framework is based on the concept of market imperfections and transaction costs. We perform...

This paper investigates the macroeconomic importance of credit rationing and whether banks use characteristics such as ownership structure and institutional type of borrowers in order to regulate the risk of loaned funds. To test this, monthly data for 2000–2002, extracted from the National...

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...

The material contained herein is supplementary to the article named in the title and published in the American Journal of Agricultural Economics, Volume 88, Number 4, November 2006.

The present paper studies the interdependencies between the energy, bioenergy and food prices. We develop a vertically integrated multi-input, multi-output market model with two channels of price transmission: a direct biofuel channel and an indirect input channel. We test the theoretical...

Kliauga, de Gorter, and Just (2008) and de Gorter, Drabik, and Just (2010) argue that the United States and the European Union establish the world ethanol and biodiesel prices, respectively. We test these theories using a cointegration analysis and the Vector Error Correction (VEC) model. Weekly...

In this paper we estimate the impact the CAP subsidies on farm bank loans. According to the theoretical results, if subsidies are paid at the beginning of the growing season they may reduce bank loans, whereas if they are paid at the end of the season they increase bank loans, but these results...

In this paper we estimate the income distributional effects of the common agricultural policy (CAP) for farmers and landowners. First, we theoretically analyse the level of farmers' and landowners' gains from coupled and decoupled payments. Second, using a unique farm level panel data set from...