The paper presents a theory of policy timing that relies on uncertainty and transaction costs to explain the optimal timing and length of policy reforms. Delaying reforms resolves some uncertainty by gaining valuable information and saves transaction costs. Implementing reforms without waiting...

This paper analyzes technical efficiency and productivity growth of dairy farms in southern Germany. We compare the performance of farms operating on permanent grassland and conventional farms using fodder crops from arable land. Using a latent class stochastic frontier model, intensive and...

Factor Markets Coordination: Centre for European Policy Studies (CEPS), Brussels, Belgium

This study gives an overview of the theoretical foundations, empirical procedures and derived results of the literature identifying determinants of land prices. Special attention is given to the effects of different government support policies on land prices. Since almost all empirical studies...