| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
THE 2002 FARM ACT: PROVISIONS AND IMPLICATIONS FOR COMMODITY MARKETS
|
| Autores: |
Westcott, Paul C.
Young, C. Edwin
Price, J. Michael
|
| Data: |
2004-11-09
|
| Ano: |
2002
|
| Palavras-chave: |
Farm legislation
2002 Farm Act
Agricultural programs
Commodity programs
Marketing loans
Counter-cyclical payments
Direct payments
Planting flexibility
Base acres
Payment yields
Farm income
Risk management
FAPSIM
Agricultural and Food Policy
|
| Resumo: |
The Farm Security and Rural Investment Act of 2002 (2002 Farm Act), which governs agricultural programs through 2007, was signed into law in May 2002. This report presents an initial evaluation of the new legislation's effects on agricultural commodity markets, based on sectorwide model simulations under alternative policy assumptions. The analysis shows that loan rate changes under the marketing assistance loan program of the 2002 Farm Act initially result in an increase in total planted acreage of eight major program crops. This increase in plantings, however, is relatively small (less than 1 percent), partly due to the inelasticity of acreage response in the sector. In the longer run, the simulations indicate that overall plantings of the eight program crops studied are lower under the 2002 Farm Act than under a continuation of the 1996 Farm Act. This result mostly reflects larger enrollment in the Conservation Reserve Program and increased plantings of dry peas and lentils, although planted acreage for the eight program crops is reduced by less than 0.6 percent. The effects of the 2002 Farm Act on the livestock sector and retail food prices are relatively small. Farm income is increased, mostly due to higher government payments to the sector under the new law.
|
| Tipo: |
Report
|
| Idioma: |
Inglês
|
| Identificador: |
15282
http://purl.umn.edu/33745
|
| Editor: |
AgEcon Search
|
| Relação: |
United States Department of Agriculture>Economic Research Service>Agricultural Information Bulletins
Agriculture Information Bulletin Number 778
|
| Formato: |
61
application/pdf
|
|
