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Direct payments and risk premia: How fared Irish cereal producers under the MacSharry reforms?

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Author Info
Gerry Boyle (National University of Ireland)
Kieran Quinn (Central Bank of Ireland)

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Abstract

The 1992 EU Common Agricultural Policy (CAP) MacSharry reforms reduced intervention prices for cereals and simultaneously introduced direct payments to producers. This paper, estimating Irish cereal producers risk attitudes and associated premiums, compares the level of the direct payment with producers' risk premia in order to see whether the introduction of the reforms was implicitly welfare enhancing for the 1993-1998 time period.

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Publisher Info
Paper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number n1230803.

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Date of creation: Aug 2003
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Handle: RePEc:may:mayecw:n1230803

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Postal: Maynooth, Co. Kildare
Phone: 353-1-7083728
Fax: 353-1-7083934
Web page: http://www.may.ie/academic/economics/
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Find related papers by JEL classification:
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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