Do agricultural subsidies crowd out or stimulate rural credit institutions? The Case of CAP Payments. Factor Markets Working Paper No. 4, September 2011

In this paper we estimate the impact of subsidies from the EU’s common agricultural policy on farm bank loans. According to the theoretical results, if subsidies are paid at the beginning of the growing season they may reduce bank loans, whereas if they are paid at the end of the season they increase bank loans, but these results are conditional on whether farms are credit constrained and on the relative cost of internal and external financing. In the empirical analysis, we use farm-level panel data from the Farm Accountancy Data Network to test the theoretical predictions for the period 1995–2007. We employ fixed-effects and generalised method of moment models to estimate the impact of subsidies on farm loans. The results suggest that subsidies influence farm loans and the effects tend to be non-linear and indirect. The results also indicate that both coupled and decoupled subsidies stimulate long-term loans, but the long-term loans of large farms increase more than those of small farms, owing to decoupled subsidies. Furthermore, the results imply that short-term loans are affected only by decoupled subsidies, and they are altered by decoupled subsidies more for small farms than for large farms; however, when controlling for endogeneity, only the decoupled payments affect loans and the relationship is non-linear.

Selecting Contexts. One Method of Selecting Contexts for Theatre Historiography

In principle, the world and life itself are the contexts of theatrical events. The term context is broad and thus seems hardly usable. It only makes sense to use the term when terminologies and methodologies determine which parts of their contexts are to be incorporated and analysed for which theatrical event. This presentation exemplifies a method which is particularly suitable for sensibly selecting the most important contexts for research in theatre history. The complexity of the representation increases continuously from The Presentation of Self in Everyday Life to Brecht’s “Street Scene” and “Everyday Theatre”, portrayals of rulers in feasts and parades to Hamlet productions by the Royal Shakespeare Company or a Wagner opera in Bayreuth. The different forms of theatre thus constitute a continuum which spans from “everyday theatre” to “art theatre”. The representation of the world in this continuum is sometimes questioned by the means of theatre, for example when Commedia dell’arte takes a critical stance towards the representative theatre of the humanists or when playful devices such as reversal, parody and fragmentation challenge the representative character of productions, which is applied by the Vice character for instance. There is a second component that has an impact on the continuum without a theatrical device: attitude, opinion, norms and bans which originate from society. As excerpts of contexts, they refer to single forms of theatre in the continuum. This results in a complex system of four components which evolves from the panorama between the antipodes “everyday theatre” and “art theatre” as well as both spheres of influence of which only one uses theatrical devices. All components interact in a specific time frame in a specific place in a specific way in each case, which can then be described as the theatricality in this time frame. This presentation will deal with what the concept is capable of doing.

The federal farm loan system, new method of farm mortgage finance, under national supervision; a practial manual upon organizing and conducting national farm loan associations, also joint stock land banks. Showing how farmers, investors, bankers and the public may obtain the fullest benefit of the system.

Mode of access: Internet.

New method of preserving sweet potatoes /

Reprint.

The improved practical system of educating the horse : ... Also a treatise on shoeing ... : A statement of their method of training cattle and dogs ... : The rules of Union Course /

Based on Dennis Magner's New system of training horses, Utica, 1863 (Cf. Libr. of Congr. Cat. of printed books)

A method of anatomy, descriptive and deductive.

Mode of access: Internet.

A method of anatomy, descriptive and deductive,

Mode of access: Internet.

A method of anatomy, descriptive and deductive.

Includes bibliography.

A method of anatomy, descriptive and deductive,

Mode of access: Internet.