| This paper examines changes in the welfare of Canadian barley and livestock producers attributable to a substantial alteration of Canadian domestic feed grain policy in 1974. Three welfare effects are determined institutional, destabilization, and risk response. Generally, the analytical results confirmed initial hypotheses, with the exclusion of a positive relationship between price risk and barley production on the Prairies. This positive relationship, theorized to result from the risk reduction effect of yearly stabilized Canadian Wheat Board initial prices, enhanced the welfare benefits of the policy change. |
