@article{Moro:149746,
      recid = {149746},
      author = {Moro, D. and Guastella, G. and Sckokai, P. and Veneziani,  M.},
      title = {The Capitalization of Area Payment into Land Rental  Prices: Micro-evidence from Italy},
      address = {2013-06},
      number = {1052-2016-85918},
      pages = {11},
      year = {2013},
      abstract = {This paper analyses the extent to which agricultural  subsidies are capitalised into land rental price. By using  Italian data at the farm level the analysis proposed in  this paper innovates with respect to existing studies in  different ways. Thanks to the long time span available in  the FADN database it is possible to compare the two time  periods, before and after the 2005 CAP reform, to test  whether any change occurred as a result of the introduction  of the decoupled payments scheme. In contrast to previous  empirical literature, which has either focused on the  unobserved farm-level heterogeneity issue or on the  selectivity issue, the method proposed in this paper  accounts for both simultaneously. Finally, the same method  is extended to account for endogeneity of some covariates.  Overall, the results in the paper confirm previous  evidence, rejecting the hypothesis that agricultural  payments are capitalized into land prices in both periods.},
      url = {http://ageconsearch.umn.edu/record/149746},
      doi = {https://doi.org/10.22004/ag.econ.149746},
}