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| McDowell, Howard; Kramer, Randall A.; Price, J. Michael. |
| This paper provides an economic analysis of the historical agricultural price and income support policy, a policy of market-determined prices and income, and a policy linking market-determined prices with sector-wide farm income stabilization in years of economic disaster. The analysis compares commodity prices, net farm income, and government expenditures over the period 1970 through 1982 based on estimates generated by USDA's Food and Agricultural Policy Simulator (FAPSIM). The historical policy generates the highest income and most stable prices. Market-determined income is lowest and has the greatest variability. Stabilization minimized income variability at intermediate income levels. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1989 |
URL: http://purl.umn.edu/30105 |
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| Westcott, Paul C.; Price, J. Michael. |
| Over the next several years, crop prices are projected to be below to slightly above commodity loan rates. As a result, marketing loan benefits to farmers, in the form of loan deficiency payments and marketing loan gains from the commodity loan program, are likely to continue to be sizeable. The level of realized per-unit revenues facilitated by marketing loans exceeds commodity loan rates, thereby raising expected net returns to farmers. Model simulations show that the loan program can raise total acreage planted to major field crops, generally increasing levels of domestic use and exports while lowering crop prices. Cross-commodity effects of supply response to relative returns (including marketing loan benefits), however, result in acreage shifts among... |
| Tipo: Report |
Palavras-chave: Commodity loans; Marketing loans; Nonrecourse loans; Loan deficiency payments; Price support; Commodity programs; Agricultural Finance. |
| Ano: 2001 |
URL: http://purl.umn.edu/34035 |
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| Westcott, Paul C.; Young, C. Edwin; Price, J. Michael. |
| 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... |
| Tipo: Report |
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. |
| Ano: 2002 |
URL: http://purl.umn.edu/33745 |
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| Salathe, Larry E.; Price, J. Michael. |
| An econometric model of the dairy industry was used to estimate the effects on farmers, consumers, and taxpayers of nationwide adoption of the California nonfat solids standards for fluid milk. It was estimated that adoption of the California standards would raise farm-level milk prices by 1 to 5 percent in the short run and by 1 to 2 percent in the long run. The average retail price of fluid milk would rise by 9 to 13 cents per gallon. Dairy program costs fall under most scenarios, but could rise if surpluses fall to levels that would trigger increases in the support price. |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 1992 |
URL: http://purl.umn.edu/29633 |
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