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Risk and Producer Compensation in the Agenda 2000 Cereal Reforms: A Note

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This note takes the view that existing studies of the impact of the Agenda 2000 cereal reform package have mis‐specified the impact of this package on a producer's price distribution. It is argued that an accurate assessment of this package requires use of the methodology outlined in Fraser (1991), and that use of this methodology highlights the central role of expected world prices in determining whether producer perceptions of this impact are favourable or unfavourable. A numerical analysis in the context of wheat producers generates an estimate for expected world prices of 111–112 Euros/tonne above which producers will perceive the package favourably. This estimate is found to be robust with respect to the key parameters of the analysis.

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  • Rob Fraser, 2000. "Risk and Producer Compensation in the Agenda 2000 Cereal Reforms: A Note," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 468-472, September.
    • Handle: RePEc:bla:jageco:v:51:y:2000:i:3:p:468-472
    DOI: 10.1111/j.1477-9552.2000.tb01242.x
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    References listed on IDEAS

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    1. R.W. Fraser, 1991. "Price‐Support Effects On Ec Producers," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(1), pages 1-10, January.
    2. Rob Fraser, 1997. "Land Heterogeneity And The May 1992 Reform Of Cap Cereal Price Support," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 65-70, January.
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    Cited by:

    1. Rob Fraser, 2001. "Using Principal‐Agent Theory to Deal with Output Slippage in the European Union Set‐Aside Policy," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(2), pages 29-41, May.
    2. McNamara, Kevin T. & Weiss, Christoph R., 2005. "Farm Household Income and On-and-Off Farm Diversification," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(1), pages 1-12, April.

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