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

Author

Listed:
  • Gerry Boyle

    (National University of Ireland)

  • Kieran Quinn

    (Central Bank of Ireland)

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.

Suggested Citation

  • Gerry Boyle & Kieran Quinn, 2003. "Direct payments and risk premia: How fared Irish cereal producers under the MacSharry reforms?," Economics Department Working Paper Series n1230803, Department of Economics, National University of Ireland - Maynooth.
    • Handle: RePEc:may:mayecw:n1230803
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    File URL: http://repec.maynoothuniversity.ie/mayecw-files/N1230803.pdf
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    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • 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; Animal Welfare Policy

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