We review the recent theoretical and empirical literature on the capitalization of agricultural
subsidies into land prices. The theoretical literature predicts that agricultural subsidies are …

This article shows that credit market imperfections have important implications for the
distribution of policy rents. In a model with land as fixed factor and credit market …

The objective of this paper is to estimate the capitalization of CAP subsidies into both rental
prices and land values in the EU. We use FADN data at regional level for the period 1989 …

We assess the effects of the 2013 CAP reform on the capitalisation of decoupled payments
in land rental values. Our estimates suggest that the reform leads to an increase in the …

This paper estimates the capitalization of the single payment scheme (SPS) into land values.
The theory suggests a nonlinear and discontinuous relationship between the SPS and land …

Decoupled direct payments to farmers were introduced in the European Union (EU) in the
form of the Single Payment Scheme (SPS) in 2005. The 2013 Common Agriculture Policy …

This article analyzes how value chains play a role in the political economy of agricultural
and food policy by (1) discussing historical insights;(2) reviewing an emerging literature on …

This paper studies the income distributional effects of three main instruments of the Common
Agricultural Policy (CAP) in the EU: Coupled Direct Payments (CDP), the Rural …

Based on 7,300 agricultural land sales transactions, we estimate the effect of the 2003
reform of the EU Common Agricultural Policy on land prices. As opposed to the main body of …

This paper analyses the distributional effects of decoupled Single Farm Payments in the
European Union. In a static world the SFP benefit only farmers, irrespective of the …