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| Registros recuperados: 10 | |
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| Carpentier, Alain; Gohin, Alexandre; Heinzel, Christoph. |
| For the 2014-2020 phase of the Common Agricultural Policy, the European Commission has the opportunity to reduce the leakage of public support to landowners and to better target it towards active farmers. Our purpose is to assess whether shifting the basis of direct payments from land towards active farmers will significantly alter agricultural production decisions. In a dynamic and stochastic microeconomic framework, we identify the impact of this shift on the farm household’s production and consumption decisions. In the dynamic setting the production impacts of direct payments are much higher than previously quantified, because the “long run” absolute risk aversion (associated with the value function) is lower than the “short run” one (associated with... |
| Tipo: Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2012 |
URL: http://purl.umn.edu/122447 |
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| Femenia, Fabienne; Gohin, Alexandre; Carpentier, Alain. |
| Recent reforms of agricultural policies in developed countries introduced direct payments to the detriment of traditional production enhancing instruments. Whereas these new instruments can influence production through several effects, current empirical studies do not show any significant impact on production; direct payments mainly increase land values. In this article, we revisit the evaluation of the coupling effects passing through the wealth of agricultural households. The initial wealth of these agents, while being mainly in form of land asset holding, is always assumed to be fixed. On the contrary we show theoretically and empirically that, once the impact of farm programs on initial wealth is properly accounted for, the measure of the coupling... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural policy; Decoupling; Wealth effect. |
| Ano: 2008 |
URL: http://purl.umn.edu/48107 |
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| Cao, Ruixuan; Carpentier, Alain; Gohin, Alexandre. |
| We argue in this paper that available econometric estimates of farmers’ risk aversion do not measure true farmers’ preferences towards risky outcomes. Available analyses are mostly of static nature and indeed measure the parameters of the synthetic optimal value function rather than the deep parameters of the utility functions. We derive analytical and empirical results in a simple dynamic and stochastic framework showing that that there is not a simple relationship between utility functions and value functions when agents have many decision variables. In particular we find that the value function does not necessarily exhibit DARA when the instantaneous utility function satisfies DARA and conversely. We recommend performing dynamic econometric estimation... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/114623 |
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| Carpentier, Alain; Letort, Elodie. |
| The first purpose of this paper is to propose theoretical justifications for using Logit acreage share models. Two approaches are presented: the Logit shares can be derived from a well defined profit function or derived as the result of a set of discrete choices. It is next shown that both theoretical frameworks allow to define generalizations of the standard Logit shares. These generalizations build on developments of the Multinomial Logit framework for modelling discrete choices and seek to define models that are flexible and empirically tractable. Two applications are presented to illustrate the empirical interest of the proposed models. Both use a rotating panel of French farms (1987-2006) and consider the estimation of yield functions, variable input... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Farm Management. |
| Ano: 2008 |
URL: http://purl.umn.edu/6234 |
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| Registros recuperados: 10 | |
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