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Effects of EU dairy policy reform for Dutch dairy farming: a primal approach using GMM estimation
This paper estimates a production function for milk using a generalised method of moments estimator to avoid the endogeneity problem. Using the first-order conditions for profit maximisation, the economic effects for individual Dutch dairy farms of the 2003 EU dairy policy reform are analysed. With...
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| Published in: | European review of agricultural economics 2005-12, Vol.32 (4), p.517-537 |
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| Main Authors: | , |
| Format: | Article |
| Language: | English |
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| cited_by | cdi_FETCH-LOGICAL-c466t-63f27f8073ce9dd8436021fb1e82ed8c3e3d98cfb8ec67f371ad2849be3d15883 |
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| cites | cdi_FETCH-LOGICAL-c466t-63f27f8073ce9dd8436021fb1e82ed8c3e3d98cfb8ec67f371ad2849be3d15883 |
| container_end_page | 537 |
| container_issue | 4 |
| container_start_page | 517 |
| container_title | European review of agricultural economics |
| container_volume | 32 |
| creator | Ooms, D.L Peerlings, J.H.M |
| description | This paper estimates a production function for milk using a generalised method of moments estimator to avoid the endogeneity problem. Using the first-order conditions for profit maximisation, the economic effects for individual Dutch dairy farms of the 2003 EU dairy policy reform are analysed. With an expected milk price decrease of 21 per cent, profit decreases on average by 22 per cent. EU direct payments compensate for roughly 53 per cent of this fall in profit. The profit reduction means that 69 per cent of all small farms have negative income from farming, compared with 15 per cent in the initial situation. |
| doi_str_mv | 10.1093/erae/jbi024 |
| format | article |
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Using the first-order conditions for profit maximisation, the economic effects for individual Dutch dairy farms of the 2003 EU dairy policy reform are analysed. With an expected milk price decrease of 21 per cent, profit decreases on average by 22 per cent. EU direct payments compensate for roughly 53 per cent of this fall in profit. The profit reduction means that 69 per cent of all small farms have negative income from farming, compared with 15 per cent in the initial situation.</description><subject>Agrarian reform</subject><subject>Agrarische Economie en Plattelandsbeleid</subject><subject>Agricultural economics</subject><subject>Agricultural Economics and Rural Policy</subject><subject>Agricultural Economics and Rural Policy Group</subject><subject>Agricultural policy</subject><subject>Agriculture</subject><subject>Area studies</subject><subject>Butter</subject><subject>Common Agricultural Policy</subject><subject>dairy farming</subject><subject>Dairy farms</subject><subject>Dairy industry</subject><subject>dairy policy</subject><subject>Dairy products</subject><subject>Economic models</subject><subject>Economic statistics</subject><subject>Economic theory</subject><subject>Estimating techniques</subject><subject>estimation</subject><subject>European Union</subject><subject>farm household income</subject><subject>Farming</subject><subject>generalised method of moments</subject><subject>Generalized method of moments</subject><subject>generalized method of moments estimator</subject><subject>Impact analysis</subject><subject>Leerstoelgroep Agrarische economie en plattelandsbeleid</subject><subject>Market prices</subject><subject>MGS</subject><subject>Milk</subject><subject>milk prices</subject><subject>milk production</subject><subject>milk quota</subject><subject>Netherlands</subject><subject>policy analysis</subject><subject>production function</subject><subject>Production functions</subject><subject>Profits</subject><subject>Reforms</subject><subject>Shadow prices</subject><subject>simulation models</subject><subject>Studies</subject><subject>Variables</subject><issn>0165-1587</issn><issn>1464-3618</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2005</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><sourceid>8BJ</sourceid><recordid>eNpdkU1v1DAQhi1EJZbCiR-AxYELSuuPxHZ6o2VpkboFAStVXCzHsRcv2TjYidr998ySqodePLLfZzzzziD0hpITSmp-6pJxp9smEFY-QwtairLggqrnaEGoqApaKfkCvcx5S-DOK7lAZum9s2PG0ePlGrcmpD0eYhfsHifnY9phOPCnabS_H1Rv0i70mzNs8JDCznTYDEOKBoApg4AvVyvs8gjSGGL_Ch1502X3-iEeo_Xn5c-Lq-L66-WXi4_XhS2FGAvBPZNeEcmtq9tWlVwQRn1DnWKuVZY73tbK-kY5K6TnkpqWqbJu4B18KX6MzuZ_78zG9dCH63Vvkg1ZRxN0F5pk0l7fTUn33SEMU5M1L0umBCS_n5PByN8Jmte7kK3rOtO7OAEmpaxEXQH47gm4jVPqwZhmhFecUU4A-jBDNsWcYYz6_6CgOiX6sCh9WJSeFwV0MdMhj-7-ETXpjxaSy0pf3f7ShH7_dnsubvQK-Lcz703UZpPA4PoHI1CYkopzVvN_8cOhHg</recordid><startdate>20051201</startdate><enddate>20051201</enddate><creator>Ooms, D.L</creator><creator>Peerlings, J.H.M</creator><general>Oxford University Press</general><general>Oxford Publishing Limited (England)</general><scope>FBQ</scope><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7TQ</scope><scope>8BJ</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>JBE</scope><scope>U9A</scope><scope>QVL</scope></search><sort><creationdate>20051201</creationdate><title>Effects of EU dairy policy reform for Dutch dairy farming: a primal approach using GMM estimation</title><author>Ooms, D.L ; Peerlings, J.H.M</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c466t-63f27f8073ce9dd8436021fb1e82ed8c3e3d98cfb8ec67f371ad2849be3d15883</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2005</creationdate><topic>Agrarian reform</topic><topic>Agrarische Economie en Plattelandsbeleid</topic><topic>Agricultural economics</topic><topic>Agricultural Economics and Rural Policy</topic><topic>Agricultural Economics and Rural Policy Group</topic><topic>Agricultural policy</topic><topic>Agriculture</topic><topic>Area studies</topic><topic>Butter</topic><topic>Common Agricultural Policy</topic><topic>dairy farming</topic><topic>Dairy farms</topic><topic>Dairy industry</topic><topic>dairy policy</topic><topic>Dairy products</topic><topic>Economic models</topic><topic>Economic statistics</topic><topic>Economic theory</topic><topic>Estimating techniques</topic><topic>estimation</topic><topic>European Union</topic><topic>farm household income</topic><topic>Farming</topic><topic>generalised method of moments</topic><topic>Generalized method of moments</topic><topic>generalized method of moments estimator</topic><topic>Impact analysis</topic><topic>Leerstoelgroep Agrarische economie en plattelandsbeleid</topic><topic>Market prices</topic><topic>MGS</topic><topic>Milk</topic><topic>milk prices</topic><topic>milk production</topic><topic>milk quota</topic><topic>Netherlands</topic><topic>policy analysis</topic><topic>production function</topic><topic>Production functions</topic><topic>Profits</topic><topic>Reforms</topic><topic>Shadow prices</topic><topic>simulation models</topic><topic>Studies</topic><topic>Variables</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Ooms, D.L</creatorcontrib><creatorcontrib>Peerlings, J.H.M</creatorcontrib><collection>AGRIS</collection><collection>Istex</collection><collection>CrossRef</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>NARCIS:Publications</collection><jtitle>European review of agricultural economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Ooms, D.L</au><au>Peerlings, J.H.M</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Effects of EU dairy policy reform for Dutch dairy farming: a primal approach using GMM estimation</atitle><jtitle>European review of agricultural economics</jtitle><addtitle>Eur Rev Agric Econ</addtitle><date>2005-12-01</date><risdate>2005</risdate><volume>32</volume><issue>4</issue><spage>517</spage><epage>537</epage><pages>517-537</pages><issn>0165-1587</issn><eissn>1464-3618</eissn><coden>ERAEDA</coden><abstract>This paper estimates a production function for milk using a generalised method of moments estimator to avoid the endogeneity problem. 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| identifier | ISSN: 0165-1587 |
| ispartof | European review of agricultural economics, 2005-12, Vol.32 (4), p.517-537 |
| issn | 0165-1587 1464-3618 |
| language | eng |
| recordid | cdi_wageningen_narcis_oai_library_wur_nl_wurpubs_344286 |
| source | EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); PAIS Index; Oxford University Press:Jisc Collections:OUP Read and Publish 2024-2025 (2024 collection) (Reading list) |
| subjects | Agrarian reform Agrarische Economie en Plattelandsbeleid Agricultural economics Agricultural Economics and Rural Policy Agricultural Economics and Rural Policy Group Agricultural policy Agriculture Area studies Butter Common Agricultural Policy dairy farming Dairy farms Dairy industry dairy policy Dairy products Economic models Economic statistics Economic theory Estimating techniques estimation European Union farm household income Farming generalised method of moments Generalized method of moments generalized method of moments estimator Impact analysis Leerstoelgroep Agrarische economie en plattelandsbeleid Market prices MGS Milk milk prices milk production milk quota Netherlands policy analysis production function Production functions Profits Reforms Shadow prices simulation models Studies Variables |
| title | Effects of EU dairy policy reform for Dutch dairy farming: a primal approach using GMM estimation |
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