The user cost of capital in Danish and Swedish agriculture
推导了一个农业企业资本使用者成本的动态套利模型，并用1984-1995年丹麦和瑞典不同规模农场的作物、奶牛和生猪行业数据，分析了国家、规模和系统间的成本差异。
This paper derives a generalised dynamic arbitrage model for the aggregated real user cost of capital attributable to the agricultural firm. The applicability of the model is demonstrated by analysing structural differences in investment incentives between the crop, dairy and hog industries for different farm sizes in Denmark and Sweden during the period between 1984 and 1995. The results indicate notable differences in user costs between countries, farm sizes and farming systems. Although larger farms are found to be characterised by a lower user cost, this result is mitigated by the structure of asset composition. Copyright 1999 by Oxford University Press.