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...

Economic theory and empirical findings suggest that the way in which agricultural support is provided has an influence on land markets. Support payments tend to become capitalised into land values to some degree, affecting both the sales and rental prices of land. These effects in turn have a...