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Farm household production in the presence of restrictions on debt : theory and policy implications
[[Modèle du ménage agricole contraint sur son endettement : théorie et implications]]

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  • Euan Phimister

    (University of Aberdeen)

Abstract

Un modèle du cycle de vie du ménage agricole avec contraintes d'endettement est développé afin d'étudier la statique comparative de deux instruments de la réforme de la PAC : la baisse du prix du produit et l'introduction de versements compensatoires. Les résultats sont comparés à ceux obtenus à partir du modèle néo-classique standard de maximisation du profit. La possibilité d'une réponse "perverse" de l'offre à la baisse du prix du produit est établie quand le ménage est contraint sur son endettement. Les versements compensatoires de la réforme ne sont pas découplés dans ce modèle et ont un impact sur l'offre. Enfin, on montre que la situation financière de l'entreprise a un impact sur la production dans le cas où la contrainte d'endettement est active.

Suggested Citation

  • Euan Phimister, 1994. "Farm household production in the presence of restrictions on debt : theory and policy implications [[Modèle du ménage agricole contraint sur son endettement : théorie et implications]]," Working Papers hal-02847900, HAL.
    • Handle: RePEc:hal:wpaper:hal-02847900
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    References listed on IDEAS

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    1. France Caillavet & Herve Guyomard & Robert Lifran & . Esr. Département d'Economie Et Sociologie Ruralesivry, 1994. "Agricultural household modelling and family economics [[Modélisation des ménages agricoles et économie de la famille]]," Post-Print hal-02846786, HAL.
    2. Phimister, Euan, 1995. "The Impact of Borrowing Constraints on Farm Households: A Life-Cycle Approach," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 22(1), pages 61-86.
    3. Elhorst, J Paul, 1993. "The Estimation of Investment Equations at the Farm Level," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 20(2), pages 167-182.
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    5. Haim Shalit & Andrew Schmitz, 1982. "Farmland Accumulation and Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(4), pages 710-719.
    6. Brase, Brian T. & LaDue, Eddy L., 1989. "Farmer Investment Behavior: A Review of Literature," Research Bulletins 183306, Cornell University, Department of Applied Economics and Management.
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    1. Harris, James Michael & Blank, Steven C. & Erickson, Kenneth W. & Hallahan, Charles B., 2010. "Off-farm Income and Investments in Farm Assets: A Double Hurdle Approach," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61531, Agricultural and Applied Economics Association.
    2. Serra, Teresa & Zilberman, David & Goodwin, Barry K. & Hyvonen, Keijo, 2004. "Replacement Of Price Support Measures By Direct Payments In Agricultural Policies: Does This Benefit The Environment? The Effects Of The Post-1992 Cap On Pest Control In The E.U," 2004 Annual meeting, August 1-4, Denver, CO 20043, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Hervé Guyomard & Louis-Pascal Mahé, 1995. "La nouvelle instrumentation de la politique agricole commune," Économie et Prévision, Programme National Persée, vol. 117(1), pages 15-29.
    4. Harris, James Michael & Dillard, John & Erickson, Kenneth W. & Hallahan, Charles B., 2009. "Changes in Debt Patterns and Financial Structure of Farm Businesses: A Double Hurdle Approach," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49402, Agricultural and Applied Economics Association.
    5. Abdul-Salam, Yakubu & Phimister, Euan, 2014. "Modelling the Impact of Market Imperfections on Farm Household Investment in Stand-Alone Solar PV," 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France 169742, Agricultural Economics Society.
    6. Rude, James, 2007. "Production Effects of the European Union’s Single Farm Payment," Working Papers 7335, Canadian Agricultural Trade Policy Research Network.
    7. Dingde Xu & Zhixing Ma & Xin Deng & Yi Liu & Kai Huang & Wenfeng Zhou & Zhuolin Yong, 2020. "Relationships between Land Management Scale and Livelihood Strategy Selection of Rural Households in China from the Perspective of Family Life Cycle," Land, MDPI, vol. 9(1), pages 1-15, January.
    8. Bascou, Pierre & Londero, Pierluigi & Munch, Wolfgang, 2004. "Reform and Adjustment in the European Union: The 2003 Reform of the Common Agricultural Policy and Enlargement," IAPRAP\IATRC Summer Symposium, Adjusting to Domestic and International Agricultural Reform in Industrial Countries, June 6-7, 2004, Philadelphia, PA, 15769, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    9. Carpentier, Alain & Gohin, Alexandre & Heinzel, Christoph, 2012. "Production Effects of Direct Payments to Active Farmers: a Microeconomic Dynamic and Stochastic Analysis," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122447, European Association of Agricultural Economists.
    10. Hervé Guyomard & Alexandre Gohin & Chantal Le Mouël, 2001. "Instruments de soutien interne des revenus agricoles, effets de distorsion sur les échanges et multifonctionnalité de l'agriculture," Post-Print hal-01937091, HAL.
    11. Fabienne Femenia & Alexandre Gohin & Alain Carpentier, 2010. "The Decoupling of Farm Programs: Revisiting the Wealth Effect," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(3), pages 836-848.
    12. Abdul-Salam, Yakubu & Phimister, Euan, 2019. "Modelling the impact of market imperfections on farm household investment in stand-alone solar PV systems," World Development, Elsevier, vol. 116(C), pages 66-76.
    13. Roel Jongeneel & Ana Gonzalez-Martinez, 2022. "EU Dairy after the Quota Abolition: Inelastic Asymmetric Price Responsiveness and Adverse Milk Supply during Crisis Time," Agriculture, MDPI, vol. 12(12), pages 1-16, November.
    14. Kassoum Ayouba & Jean-Philippe Boussemart & Stéphane Vigeant, 2017. "The impact of single farm payments on technicalinefficiency of French crop farms," Review of Agricultural, Food and Environmental Studies, INRA Department of Economics, vol. 98(1-2), pages 1-23.
    15. James Rude, 2008. "Production Effects of the European Union's Single Farm Payment," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 56(4), pages 457-471, December.
    16. Frederic Courleux & Herve Guyomard & Fabrice Levert, 2007. "Étude prospective sur le fonctionnement des marchés des droits au paiement et de la réserve nationale mis en place dans le cadre de la réforme de la PAC de juin 2003," Working Papers hal-01595356, HAL.
    17. Mary, Sebastien & Santini, Fabien & Boulanger, Pierre, 2013. "An Ex-Ante Assessment of CAP Income Stabilisation Payments using a Farm Household Model," 87th Annual Conference, April 8-10, 2013, Warwick University, Coventry, UK 158860, Agricultural Economics Society.

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    POLITIQUE AGRICOLE COMMUNE;

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