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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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| Young, C. Edwin; Skully, David W.; Westcott, Paul C.; Hoffman, Linwood A.. |
| The 2002 Farm Act provided farmland owners the opportunity to update commodity program base acres and payment yields used for calculating selected program benefits. Findings in this report suggest that farmland owners responded to economic incentives in these decisions, selecting those options for designating base acres that resulted in the greatest expected flow of program payments. Decisions of farmland owners in South Dakota, in upland cotton area, and in the Heartland region support the payment-maximization argument. In general, landowners favored maximizing payments over aligning base acres to current or recent plantings. Farmland owners with high-payment base acres, such as rice and cotton, held on to these base acres and, whenever possible, expanded... |
| Tipo: Report |
Palavras-chave: Base; 2002 Farm Act; Direct payments; Counter-cyclical payments; Production flexibility contract payments; Base acres; Program yields; Agricultural and Food Policy; Farm Management. |
| Ano: 2005 |
URL: http://purl.umn.edu/33594 |
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