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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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| Femenia, Fabienne; Gohin, Alexandre. |
| Economic analyses of farm policies generally focus on the long run, steady state impacts while the transition dynamics are often overlooked. In this paper we develop a determinist dynamic computable general equilibrium analysis allowing agents to form imperfect versus pefect expectations. Using an illustrative CAP reform scenario, we simulate an abrupt versus a gradual implementation of this reform. Our results show that if economic agents are able to perfectly anticipate the impacts of the reform, then delaying its implementation is never optimal. On the other hand, if agents gradually learn from market developments, then we find some cases where a gradual implementation of this reform is welfare improving. Such gradual implementation allows minimizing... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Dynamics; Transition; Farm Policies; Welfare; Agricultural and Food Policy; Political Economy. |
| Ano: 2010 |
URL: http://purl.umn.edu/91285 |
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