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Perspectives on Addressing Market Instability and Income Risk for Farmers

Author

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  • Alan Matthews

    () (Trinity College Dublin)

Abstract

Successive reforms of the EU’s Common Agricultural Policy since 1992 have gradually switched support from market and price management to direct payments, which since 2005 are largely decoupled. This more market-oriented CAP means that farmers must now take responsibility for managing those risks that were formerly absorbed by market and price support policies. There is a vigorous debate on how to adapt the CAP to help farmers and the food chain cope better with risk and crisis management. This paper reviews the possible policy options and proposes an extended role for Member States to address agricultural income instability through either enhanced income insurance or income safety net schemes.

Suggested Citation

  • Alan Matthews, 2010. "Perspectives on Addressing Market Instability and Income Risk for Farmers," The Institute for International Integration Studies Discussion Paper Series iiisdp324, IIIS, revised Apr 2010.
  • Handle: RePEc:iis:dispap:iiisdp324
    as

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    File URL: http://www.tcd.ie/iiis/documents/discussion/pdfs/iiisdp324.pdf
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    References listed on IDEAS

    as
    1. Cuddy, John D A & Della Valle, P A, 1978. "Measuring the Instability of Time Series Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 40(1), pages 79-85, February.
    2. Olivier Mahul & Brian D. Wright, 2003. "Designing Optimal Crop Revenue Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 580-589.
    3. Carlo Cafiero & Fabian Capitanio & Antonio Cioffi & Adele Coppola, 2007. "Risk and Crisis Management in the Reformed European Agricultural Policy," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 55(4), pages 419-441, December.
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    Cited by:

    1. Murphy, Geraldine & Hynes, Stephen & Murphy, Eithne & O'Donoghue, Cathal & Green, Stuart, 2011. "Assessing the compatibility of farmland biodiversity and habitats to the specifications of agri-environmental schemes using a multinomial logit approach," Ecological Economics, Elsevier, vol. 71(C), pages 111-121.
    2. Severini, Simone & Tantari, Antonella & Di Tommaso, Giuliano, 2016. "The instability of farm income. Empirical evidences on aggregation bias and heterogeneity among farm groups," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 5(1), April.
    3. Nzuma, Jonathan M. & Karugia, T.J. & Wanjiku, J. & Wambua, J. & Kirui, Oliver K., 2013. "Staple Food Price Volatility and Its Policy Implications in Kenya," 2013 AAAE Fourth International Conference, September 22-25, 2013, Hammamet, Tunisia 161525, African Association of Agricultural Economists (AAAE).
    4. Liesivaara, Petri & Myyrä, Sami, 2016. "Income stabilisation tool and the pig gross margin index for the Finnish pig sector," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236360, Agricultural Economics Society.

    More about this item

    Keywords

    Price volatility; agricultural market management; futures markets; income insurance; income safety nets; Common Agricultural Policy;

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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