The Empirical Distribution of the Costs of Revenue-Based Commodity Support Programs-Estimates and Policy Implications
This paper demonstrates how the density function of the U.S. domestic commodity support payments for corn differs between current price-based approaches to support and a revenue-based alternative. Comparing across program scenarios that provide equal expected levels of support at the national level, the revenue-based scenario exhibits a lower variability around total expected annual payments, and perhaps more importantly, a lower probability of high payments than the current-style support. Furthermore, for the vast majority of corn-producing counties in the United States, the coefficient of variation of total gross revenue per acre is lower under the revenue-based support scenario than under the current-style scenario. Copyright 2009 Agricultural and Applied Economics Association
Year of publication: |
2009
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Authors: | Cooper, Joseph |
Published in: |
Review of Agricultural Economics. - Agricultural and Applied Economics Association - AAEA, ISSN 2040-5790. - Vol. 31.2009, 2, p. 206-221
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Publisher: |
Agricultural and Applied Economics Association - AAEA |
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