This paper analyses the horizontal transmission of cereal price shocks both across different market places and across different commodities. The analysis is carried out using Italian and international weekly spot (cash) price data and concentrating the attention on years 2006-2010, a period of generalized exceptional exuberance and consequent rapid drop of agricultural prices. The work aims at investigating how price transmission may be affected during price bubbles. The properties of price time series are firstly explored to assess which data generation process may have eventually produced the observed patterns. Secondly, the interdependence across prices is specified and estimated adopting appropriate cointegration techniques.
This article investigates the impact of both the Common Agricultural Policy and structural policies on European regions by estimating a conditional growth convergence model. The Common Agricultural Policy influences the convergence process by affecting regional aggregate productivity, eventually conflicting with the structural policies designed to promote growth in lagging regions. The conditional convergence model is specified in a dynamic panel data form and applied to 206 regions observed from 1989 to 2000. A GMM estimation is applied in order to obtain consistent estimates of both the convergence parameter β and the impact of the conditioning variables, policy measures in particular. Copyright 2007, Oxford University Press.
The Common Agricultural Policy (CAP) is an important external driver of European agricultural production. Nowadays and in its envisioned future structure post-2020, the CAP has among its major objectives tackling climate change, for what concerns both adaptation and mitigation strategies. However, little is known about the link between past CAP reforms and agricultural greenhouse gases (GHG) emissions. This paper investigates the possible role played by the Fischler Reform (FR) on the agricultural GHG emissions at the farm level. The FR represents a major CAP reform for which data availability allows an ex-post analysis about its actual impacts. The empirical analysis concerns a balanced panel of 6542 Italian Farm Accountancy Data Network observed over years the 2003-2007. Multinomial Logit models are estimated in sequence to express how the farm-level production choices, and the respective emissions, vary over time also in response to CAP expenditure. Results suggest that CAP expenditure had a role in the evolution of the farm-level emissions, though the direction of this effect may differ across farms and deserves further investigation.
This article analyzes long-term agricultural Total Factor Productivity (TFP) growth at regional level by testing its time-series properties and identifying factors associated with divergence as opposed to convergence. The empirical application concerns Italian regions over the 1951-2002 time period. TFP growth decomposition ultimately attributes the observed productivity growth performance to these contrasting (convergence vs. divergence) forces. We find that technological spillovers are the key convergence force regardless of how the spillover effects are computed. At the same time, forces favoring convergence are almost offset by divergence forces (mainly scale or learning effects). This decomposition may explain the persistence of TFP growth rate differences in Italian agriculture, and could be applicable elsewhere.JEL Classifications: O130, O180, Q110
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.