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Registros recuperados: 10
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The Role of Small Farms in Structural Change AgEcon
Huettel, Silke; Margarian, Anne.
This paper explains regionally differentiated patterns of structural change based on a theoretical framework dealing with strategic interaction of farms on the land market. The main research question focuses on the causes of regionally persistent structures. An empirical Markov chain model is defined for the West German agricultural sector. Thereby it is possible to explain the probabilities of farm growth, decline or exit in terms of the current and former regional farm size structure. Further, the impact of variables describing the regional farm structure, thereby indicating market power of the large, the potential of high competition for land within a region and possibly high rents of the status quo in combination with sunk costs, is quantified. The...
Tipo: Working or Discussion Paper Palavras-chave: Structural change; Strategic competition; Land market; Markov chain; Agribusiness; Agricultural and Food Policy; Community/Rural/Urban Development; Institutional and Behavioral Economics; Risk and Uncertainty.
Ano: 2009 URL: http://purl.umn.edu/59519
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Empirische Validierung von Realoptionsmodellen AgEcon
Odening, Martin; Musshoff, Oliver; Huettel, Silke.
Tipo: Working or Discussion Paper Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2003 URL: http://purl.umn.edu/18825
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The Role of Small Farms in Structural Change AgEcon
Huettel, Silke; Margarian, Anne.
This paper explains regionally differentiated patterns of structural change based on a theoretical framework dealing with strategic interaction of farms on the land market. The main research question focuses on the causes of regionally persistent structures. An empirical Markov chain model is defined for the West German agricultural sector. Thereby it is possible to explain the probabilities of farm growth, decline or exit in terms of the current and former regional farm size structure. Further, the impact of variables describing the regional farm structure, thereby indicating market power of the large, the potential of high competition for land within a region and possibly high rents of the status quo in combination with sunk costs, is quantified. The...
Tipo: Conference Paper or Presentation Palavras-chave: Structural change; Strategic competition; Land market; Markov chain; Land Economics/Use.
Ano: 2009 URL: http://purl.umn.edu/52853
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Impact of the EU Milk Quota on Structural Change in the Dairy Sectors of Germany and The Netherlands AgEcon
Huettel, Silke; Jongeneel, Roelof A..
Tipo: Conference Paper or Presentation Palavras-chave: Markov Chain; Milk Quota Scheme; Structural Change; Agribusiness; Agricultural and Food Policy; O11; C11.
Ano: 2009 URL: http://purl.umn.edu/50943
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Investment Reluctance: Irreversibility or Imperfect Capital Markets? Evidence from German Farm Panel Data AgEcon
Huettel, Silke; Musshoff, Oliver; Odening, Martin.
Investment behavior at the firm level is characterized by lumpy adjustments and frequent periods of inactivity. Low investment rates are particularly puzzling in transition economies where an urgent need of modernization exists. The literature offers two explanations for. Firstly, neo-institutional finance theory focuses on the impacts of imperfect capital markets on investment decisions showing that the limited availability of financial funds may confine firms’ investments. Secondly, real options theory asserts that the interaction of irreversibility, uncertainty and flexibility may also result in investment reluctance. In this paper we suggest a generalized model that combines imperfect capital markets and real options effects. We also offer an...
Tipo: Conference Paper or Presentation Palavras-chave: Investment decision; Irreversibility; Uncertainty; Q-model; Capital market imperfections; Generalized tobit model; Transition; Financial Economics; D81; D92; O12.
Ano: 2007 URL: http://purl.umn.edu/9826
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Dairy Farm Size Distribution in East and West: Evolution and Sensitivity to Structural and Policy Variables: Case-Studies of the Netherlands, Germany, Poland and Hungary AgEcon
Jongeneel, Roelof A.; Longworth, Natasha; Huettel, Silke.
This paper analyses the dynamics in the farm size distribution for The Netherlands, Germany, Poland and Hungary. A (non-)stationary Markov model approach is used. The transition probabilities are explained by a set of exogenous (policy) variables. The models are estimated using an information theoretical approach, including non-sample (prior) information. The models can be used to simulate the impact of alternative dairy policies on the dairy sector structure. For all countries there is an autonomous decline in farm numbers over time (implying increase in average farm size). This trend continues irrespective of the EU dairy policy type. For both Hungary and Poland the role of the subsistence sector is expected to substantially decrease over time.
Tipo: Conference Paper or Presentation Palavras-chave: Farm size structure; Dairy; Milk quotas; Policy; Maximum entropy; Livestock Production/Industries.
Ano: 2005 URL: http://purl.umn.edu/24772
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Impacts of Decoupling and Milk Quota Trade on the French and German Dairy Sectors AgEcon
Huettel, Silke; Kleinhanss, Werner; Offermann, Frank.
This paper analyses the impacts of the 2003 CAP reform and of milk quota trade at the national level. To this end, a mathematical programming model has been further developed for Germany and extended to other main milk-producing EU member states like France. Homogeneous farm groups are built on the basis of EU Farm Accountancy Data Network. The results show that quotas will be fully used in both countries if quota trade is possible. A clear tendency in the reallocation of production from small towards large farms can be seen in all regions for France. In Germany, the redistribution of direct payments induced by the implementation of the regional scheme of decoupled payments leads to higher reductions of income in dairy & beef farms than in France.
Tipo: Conference Paper or Presentation Palavras-chave: 2003 CAP reform; Milk quota trade; Model; Mathematical programming; International Relations/Trade.
Ano: 2005 URL: http://purl.umn.edu/24731
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Regional asymmetries in farm size AgEcon
Huettel, Silke; Margarian, Anne; von Schlippenbach, Vanessa.
This paper explores how the initial farm size structure affects the exit decision of farms inducing free land capacities, and the allocation of the newly available land resources to the remaining farms in a particular region. We model an agricultural market where large and small firms first decide whether to leave the market or not; in case of continuing in production the farms compete for getting access to additional land resources in a Vickrey auction. We find that larger farms allocate more additional quantity than small farms; the latter are more likely to leave the market. An empirical illustration gives further support and reveals the relation between farm size structure, farm exits and growth of the large.
Tipo: Conference Paper or Presentation Palavras-chave: Asymmetries; Land market; Capacity allocation; Vickrey auction; Agricultural and Food Policy; Farm Management; Land Economics/Use; L11; L12; Q12.
Ano: 2010 URL: http://purl.umn.edu/62046
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Financial constraints in economic transition: Empirical evidence from Ukrainian large farms AgEcon
Zinych, Nataliya; Odening, Martin; Huettel, Silke.
This paper addresses the question of financial constraints in Ukrainian agriculture in transition. The main objective is to reveal the evidence of the both phenomena, soft budget constraints and credit rationing, investigating investment behaviour of large farms in Ukraine. Our empirical analysis is based on unbalanced panel data containing 529 agricultural enterprises from three Ukrainian regions between 2001 and 2005. Estimates of the Euler investment equation for several sub-samples reveal a dissimilar level of financial constraints. We confirm the presence of the soft financial environment (soft budget constraints) for the Ukrainian large farms being in an unconstrained financial regime. The farms belong to this regime if they receive credits after...
Tipo: Conference Paper or Presentation Palavras-chave: Transition agriculture; Investment; Soft budget constraints; Credit rationing; Ukraine; Agricultural Finance.
Ano: 2007 URL: http://purl.umn.edu/7834
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Structural Change in the Dairy Sectors of Germany and The Netherlands - A Markov Chain Analysis AgEcon
Huettel, Silke; Jongeneel, Roelof A..
With the milk quota announced to be abolished in the future, the dairy sector is going to face a significant policy regime shift. This paper sets out to analyze the impact of milk quotas on the dairy farm structure of two important milk producing member states: Germany and the Netherlands. Based on proper behavioral assumptions, non stationary Markov chain models are specified and estimated using a generalized cross entropy procedure, which takes into account both sample and prior information. Moreover four mobility indicators characterizing structural change are developed and calculated. Structural change in the dairy sector as measured by the mobility measures is faster in West Germany than in the Netherlands. However, in the transition region East...
Tipo: Conference Paper or Presentation Palavras-chave: Markov Chain; Milk Quota; Structural Change; Livestock Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/43659
Registros recuperados: 10
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