A meta-analysis of the capitalisation of CAP direct payments into land prices
通过贝叶斯元回归模型，系统梳理了欧盟共同农业政策直接支付对土地价格影响的实证研究，发现脱钩支付提高了资本化率，但程度取决于成员国的实施方式。
Abstract The impact of the European Union common agricultural policy direct payments on land prices has received substantial attention in recent years, leading to heterogeneous evidence of capitalisation for both coupled and decoupled payments. In this paper, we provide an extensive review of the empirical works addressing this issue econometrically and compare their results through a Bayesian meta-regression model, focussing on the impact of decoupling and its implementation schemes. We find that the introduction of decoupled payments increased the capitalisation rate, although the extent of this increment hinges on the implementation scheme adopted by the member state.