The politics of CAP reform: Trade negotiations, institutional settings and blame avoidance

In this article we argue that the conclusion of the GATT Uruguay Round Agreement on Agriculture and the subsequent role of the WTO has changed the international context of CAP policy-making. However, comparing the three latest CAP reforms, we demonstrate that pressures on the CAP arising from international trade negotiations cannot alone account for the way in which the EU responds in terms of CAP reform. The institutional setting within which the reform package was determined also played a crucial role. Contrary to conventional wisdom, the CoAM seems to be a more conducive setting than the European Council for undertaking substantial reform of the CAP. We suggest that the choice of institutional setting is influenced by the desire of farm ministers and of heads of state or government to avoid blame for unpopular decisions. When CAP reform is an integral part of a broader package, farm ministers pass the final decision to the European Council and when CAP reform is defined as a separate issue the European Council avoids involvement.

Bridging the gaps between agricultural policy, land-use and biodiversity

The fate of biodiversity is intimately linked to agricultural development. Policy reform is an important driver of changes in agricultural land-use, but there is considerable spatial variation in response to policy and its potential impact on biodiversity. We review the links between policy, land-use and biodiversity and advocate a more integrated approach. Ecologists need to recognize that wildlife-friendly farming is not the only land-use strategy that can be used to conserve biodiversity and to research alternative options such as land sparing. There is also a need for social scientists and ecologists to bring their approaches together, so that land-use change and its consequences can be investigated in a more holistic way.

Timing and the holding periods of institutional real estate

Literature on investors' holding periods for securities suggests that high transaction costs are associated with longer holding periods. Return volatility, by contrast, is associated with shorter holding periods. In real estate, high transaction costs and illiquidity imply longer holding periods. Research on depreciation and obsolescence suggests that there might be an optimal holding period. Sales rates and holding periods for U.K. institutional real estate are analyzed, using a proportional hazards model, over an 18-year period. The results show longer holding periods than those claimed by investors, with marked differences by type of property and over time. The results shed light on investor behavior.

Gaps in second language sentence processing

Four groups of second language (L2) learners of English from different language backgrounds (Chinese, Japanese, German, and Greek) and a group of native speaker controls participated in an online reading time experiment with sentences involving long-distance whdependencies. Although the native speakers showed evidence of making use of intermediate syntactic gaps during processing, the L2 learners appeared to associate the fronted wh-phrase directly with its lexical subcategorizer, regardless of whether the subjacency constraint was operative in their native language. This finding is argued to support the hypothesis that nonnative comprehenders underuse syntactic information in L2 processing.