In this paper the econometric model that has been developed under the auspices of the FAPRI-Ireland Partnership is presented. The FAPRI-Ireland Partnership is a joint venture between Teagasc (The Irish Agriculture and Food Development Authority), the Irish universities, other interest groups in...

the persistence of poverty remains a major concern of policy makers. Despite this concern there has been little empirical work examining the issue. In this paper we provide estimates of poverty persistence in the U.K. by examining the degree of intergenerational mobility. Our findings support...

We study the strategic investment behaviour of oligopsonistic rivals in the labour market. Under wage competition, firms play "puppy dog" with productivityaugmenting investment and "fat cat" with supply-enhancing investment. Under employment competition, investing strategically always involves...

This paper examines how a traditional village deals with the consequences of population growth. The increase in population demands more intensive use of the land which requires the transformation of commonly-owned land into privately-owned land. Customary law contains clear prescriptions about...

A model that allows for inter vivos intergenerational transfers in a booming housing market is developed. The model is used to explain how transfers effect the first-time homebuyer’s consumption and housing decisions by alleviating borrowing constraints. The general implications of the model...

Present research proposes the extension of the Gertler-Rogoff-Lane model of international lending under the risk of repudiation with moral hazard to encompass the possibility of the project contingency in the repudiation risk itself. By linking the level of repudiation risk to the size of the...

This paper commences from a new indirect utility function and derives the corresponding system of equations, relating commodity demands to prices and income, that satisfies the constraints imposed by utility maximisation (aggregation, homogeneity, Slutsky symmetry and negativity). As the famous...

The 1992 EU Common Agricultural Policy (CAP) MacSharry reforms reduced intervention prices for cereals and simultaneously introduced direct payments to producers. This paper, estimating Irish cereal producers risk attitudes and associated premiums, compares the level of the direct payment with...

A real options model is used to explain why Irish farmers have been slow to switch from traditional farming to forestry despite numerous government incentives. In the theoretical model our results depend on profits from traditional farming relative to forestry. Under reasonable parameterisations...

A common approach to dealing with missing data in econometrics is to estimate the model on the common subset of data, by necessity throwing away potentially useful data. In this paper we consider a particular pattern of missing data on explanatory variables that often occurs in practice and...