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Entry, Exit, and Farm Size: Assessing an Experiment in Dairy Price Policy

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  • Jeremy D. Foltz
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    Abstract

    This article models and estimates the forces behind farm exits and changes in herd-size among Connecticut dairy farms under the New England Dairy Compact. A model of sunk costs and farm capital investment is used to specify two econometric estimations: a random effects probit model of farm entry and exit and an autocorrelated generalized least squares panel data model of farm size. The Dairy Compact's price strategy reduced farm exits and moderately increased cow numbers. In contrast, development pressures and historically low unemployment rates increased farm exits. Copyright 2004, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1111/j.0002-9092.2004.00603.x
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    Bibliographic Info

    Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

    Volume (Year): 86 (2004)
    Issue (Month): 3 ()
    Pages: 594-604

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    Handle: RePEc:oup:ajagec:v:86:y:2004:i:3:p:594-604

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    Cited by:
    1. Kimhi, Ayal & Rubin, Ofir D., 2007. "Assessing the Response of Farm Households to Dairy Policy Reform in Israel," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9948, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Breustedt, Gunnar & Mees, Martin, 2010. "Growth Of German Dairy Farms Under The Eu Milk Quota," 50st Annual Conference, Braunschweig, Germany, September 29-October 1, 2010 93950, German Association of Agricultural Economists (GEWISOLA).
    3. Rigoberto A. Lopez & Nataliya Plesha, 2013. "Economic And Sustainability Impacts Of Connecticut’S Public Act 09-229 To Support Dairy Farming," Outreach Reports 17, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
    4. Ihli, Hanna Julia & Musshoff, Oliver, 2013. "Investment Behavior of Ugandan Smallholder Farmers: An Experimental Analysis," Discussion Papers 154775, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    5. Foltz, Jeremy D. & Aldana, Ursula, 2006. "Off-Farm Work and On-Farm Investment," 2006 Annual meeting, July 23-26, Long Beach, CA 21185, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Ihli, Hanna Julia & Maart, Syster Christin & Musshoff, Oliver, 2012. "Investment and Disinvestment in Irrigation Technology – An Experimental Analysis of Farmers’ Decision Behavior –," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124532, Agricultural and Applied Economics Association.
    7. Maack, Moritz & Maart, Syster Christin & Musshoff, Oliver, 2012. "The Impact of Price Floors -A Real Options Based Experimental Approach-," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124328, Australian Agricultural and Resource Economics Society.
    8. Zimmermann, Andrea & Heckelei, Thomas, 2012. "Differences of farm structural change across European regions," Discussion Papers 162879, University of Bonn, Institute for Food and Resource Economics.
    9. Spiro E. Stefanou, 2009. "Comment on "Producer Dynamics in Agriculture: Empirical Evidence"," NBER Chapters, in: Producer Dynamics: New Evidence from Micro Data, pages 391-394 National Bureau of Economic Research, Inc.
    10. Huettel, Silke & Jongeneel, Roelof A., 2008. "Structural Change in the Dairy Sectors of Germany and The Netherlands - A Markov Chain Analysis," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43659, European Association of Agricultural Economists.
    11. Jongeneel, Roelof A. & Longworth, Natasha & Huettel, Silke, 2005. "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," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24772, European Association of Agricultural Economists.
    12. Francksen, Tammo & Hagemann, Martin & Latacz-Lohmann, Uwe, 2011. "Eine empirische Untersuchung zum Wachstum von Milchviehbetrieben mittels der Ereignisanalyse," 51st Annual Conference, Halle, Germany, September 28-30, 2011 114494, German Association of Agricultural Economists (GEWISOLA).
    13. Mary Clare Ahearn & Penni Korb & Jet Yee, 2009. "Producer Dynamics in Agriculture: Empirical Evidence," NBER Chapters, in: Producer Dynamics: New Evidence from Micro Data, pages 369-391 National Bureau of Economic Research, Inc.
    14. Kuo-Liang Chang & George Langelett & Andrew Waugh, 2011. "Health, Health Insurance, and Decision to Exit from Farming," Journal of Family and Economic Issues, Springer, vol. 32(2), pages 356-372, June.
    15. Berlinschi, Ruxanda & Swinnen, Johan F.M. & Van Herck, Kristine, 2012. "Subsidies and agricultural employment: The education channel," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126776, International Association of Agricultural Economists.
    16. Mosnier, Claire & Wieck, Christine, 2010. "Determinants of spatial dynamics of dairy production: a review," Discussion Papers 162896, University of Bonn, Institute for Food and Resource Economics.
    17. BROSIG, Stephan & GLAUBEN, Thomas & Herzfeld, Thomas & WANG, Xiaobing, 2009. "Persistence of full- and part-time farming in Southern China," China Economic Review, Elsevier, vol. 20(2), pages 360-371, June.
    18. Daniel A. Sumner, 2014. "American Farms Keep Growing: Size, Productivity, and Policy," Journal of Economic Perspectives, American Economic Association, vol. 28(1), pages 147-66, Winter.
    19. Peerlings, Jack H.M. & Ooms, Daan L., 2008. "Farm growth and exit: consequences of EU dairy policy reform for Dutch dairy farming," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44384, European Association of Agricultural Economists.

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