Micro-economic panel data models for Dutch dairy farming

Keywords:micro-economic models, panel data, GMM, CAP reform, dairy farmingIn The Netherlands, thedairy sector is the largest agricultural sub-sector based on both gross production value and number of farms.It is characterised by family farms in which large part of labour, management and risk bearing capital are supplied by the owner and his or her household. The dairy sector is highly regulated by the Common Agricultural Policy (CAP) of the EU. Within the CAP, milk production is limited since 1984 by farm specific quotas. The 2003 CAP reform, by introducing direct income payments, makes polici... Mehr ...