Michalek, Jerzy; Ciaian, Pavel; d’Artis Kancs - In: Land Economics 90 (2014) 2
This paper estimates the capitalization of the single payment scheme (SPS) into land values. The theory suggests a nonlinear and discontinuous relationship between the SPS and land rents. In empirical analysis we employ unique farm-level panel data and apply the generalized propensity score...