As a multi‐objective policy, the EU Common Agricultural Policy continues to secure significant income support for farmers as one of the nine specific objectives. We estimate the income transfer efficiency of a broad set of pivotal policy measures, focusing on the effects of farm structure on income transfer efficiency. We use dynamic modelling, based on a micro‐data panel of Italian farms for the period 2008–2014, allowing for endogeneity, simultaneity bias, and omitted variables. In line with previous studies and economic expectations, we find that decoupled direct payments provide the highest contribution to agricultural incomes, followed by agri‐environmental payments and on‐farm investment subsidies. Coupled payments have no significant impacts on farmers’ income. Generally, for all analysed Common Agricultural Policy measures, large farms benefit from greater transfer efficiency levels compared with medium and small farms. These differences among instruments and across farms suggest that policy‐participation costs may play a pivotal role, together with the economic structure of farms, in determining the income transfer efficiency of CAP policies.

中文翻译：

---

共同农业政策在增加农场收入方面的作用：意大利农场规模的动态面板分析

作为多目标政策，欧盟共同农业政策继续确保为农民提供大量收入支持，这是九个具体目标之一。我们估算了一系列关键性政策措施的收入转移效率，重点是农场结构对收入转移效率的影响。我们使用动态建模，基于意大利农场2008-2014年期间的微数据面板，考虑了内生性，同时性偏见和遗漏变量。与先前的研究和经济预期相一致，我们发现去耦的直接付款对农业收入的贡献最大，其次是农业环境付款和农场投资补贴。分期付款对农民的收入没有重大影响。通常，对于所有已分析的《共同农业政策》措施，与中小型农场相比，大型农场受益于更高的转移效率水平。文书之间以及农场之间的这些差异表明，政策参与成本可能与农场的经济结构一起，在确定CAP政策的收入转移效率方面发挥关键作用。