We use a simple nonlinear commodity market model to illustrate the impact of recent reforms of the CAP on the variability of EU and world wheat prices. Second, within an expected utility framework we estimate the transfer and risk effects on producer welfare due to market liberalizing reforms. We found that wheat producers were over-compensated for the losses due to lower prices following the 1992 reforms. The transfer effect clearly dominated while the risk component was small. Further, we did not find producer incomes to be more unstable following to the 1992 CAP reforms.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2000 Annual meeting, July 30-August 2, Tampa, FL with number
21780.
Length: Date of creation: 2000 Date of revision: Handle: RePEc:ags:aaea00:21780
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