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Economics of farmer early retirement policy

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  • J. Davis
  • P. Caskie
  • M. Wallace

Abstract

We estimate the structural effects, costs and potential efficiency gains that might arise from the introduction of an Early Retirement Scheme for farmers in Northern Ireland using data from the Farm Business Survey and a separate survey of 350 farmers aged between 50 and 65. Modelling results suggest that farm scale is a significant determinant of profit per hectare but that the age of the operator is not. The economic gains from releasing land through a scheme were conditional on transfers bringing about significant farm expansion and changes in land use. When these conditions were satisfied pensions payments of only about one-third the statutory maximum could be justified. Survey responses indicated that participation in the scheme would bring forward farmers' retirement age by an average of 4 years. Moreover, 'deadweight' payments would equate to about 23% of potential total expenditure. Overall, the economic case for the introduction of an Early Retirement Scheme to Northern Ireland is judged to be weak.

Suggested Citation

  • J. Davis & P. Caskie & M. Wallace, 2009. "Economics of farmer early retirement policy," Applied Economics, Taylor & Francis Journals, vol. 41(1), pages 35-43.
    • Handle: RePEc:taf:applec:v:41:y:2009:i:1:p:35-43
    DOI: 10.1080/00036840600994211
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    Cited by:

    1. Joshua D. Detre & Hiroki Uematsu & Ashok K. Mishra, 2011. "The influence of GM crop adoption on the profitability of farms operated by young and beginning farmers," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(1), pages 41-61, May.
    2. Garrone, Maria & Emmers, Dorien & Olper, Alessandro & Swinnen, Johan, 2019. "Jobs and agricultural policy: Impact of the common agricultural policy on EU agricultural employment," Food Policy, Elsevier, vol. 87(C), pages 1-1.
    3. Andrew P. Barnes, 2023. "The role of family life‐cycle events on persistent and transient inefficiencies in less favoured areas," Journal of Agricultural Economics, Wiley Blackwell, vol. 74(1), pages 295-315, February.
    4. Banovic, Marija & Duesberg, Stefanie & Renwick, Alan & Keane, Mark & Bogue, Pat, 2015. "The Field: Land mobility measures as seen through the eyes of Irish farmers," 89th Annual Conference, April 13-15, 2015, Warwick University, Coventry, UK 204200, Agricultural Economics Society.
    5. Ruggiero Sardaro & Nicola Faccilongo & Francesco Contò & Piermichele La Sala, 2021. "Adaption Actions to Cope with Climate Change: Evidence from Farmers’ Preferences on an Agrobiodiversity Conservation Programme in the Mediterranean Area," Sustainability, MDPI, vol. 13(11), pages 1-17, May.
    6. Davis, John & Caskie, Paul & Wallace, Michael, 2013. "Promoting structural adjustment in agriculture: The economics of New Entrant Schemes for farmers," Food Policy, Elsevier, vol. 40(C), pages 90-96.
    7. Šimpach, Ondřej & Pechrová, M., 2015. "Development of the Czech Farmers’ Age Structure and the Consequences for Subsidy Policy," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 7(3), pages 1-13, September.
    8. Oliver Musshoff & Norbert Hirschauer, 2011. "A behavioral economic analysis of bounded rationality in farm financing decisions," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(1), pages 62-83, May.
    9. Georgina Milne & Andrew William Byrne & Emma Campbell & Jordon Graham & John McGrath & Raymond Kirke & Wilma McMaster & Jesko Zimmermann & Adewale Henry Adenuga, 2022. "Quantifying Land Fragmentation in Northern Irish Cattle Enterprises," Land, MDPI, vol. 11(3), pages 1-16, March.

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