IMPACTS OF 2003 CAP REFORM ON LAND PRICES: FROM THEORY TO EMPIRICAL RESULTS

Stefan Kilian, Jesus Anton, Norbert Roder and Klaus Salhofer

No 44808, 109th Seminar, November 20-21, 2008, Viterbo, Italy from European Association of Agricultural Economists

Abstract: Based on a graphical model we analyse the impacts of the Fischler Reform on land prices and the capitalization of single farm payments (sfp) into land values. The model shows that if there are more sfp than eligible land, the capitalization ratio will not decline but rather increase due to the inclusion of animal premiums in the sfp. We can confirm our theoretical results for cross-section data on land rental prices in Bavaria in 2005. Empirical results indicate that sfp of the Fischler reform are more capitalized into rental prices than the coupled direct payments of the time prior to the reform.

Keywords: Agricultural and Food Policy; Public Economics (search for similar items in EconPapers)
Date: 2008-11-12
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Citations: View citations in EconPapers (25)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaa109:44808

DOI: 10.22004/ag.econ.44808

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