The paper investigates the capitalizations of aggregate and disaggregate government subsidies into farmland rental rates using selection bias correction models. It investigates cash as well as share rental rates, which are largely used in US agriculture. The empirical results suggest that...

Replaced with revised version of poster 07/22/10.

We employ an open economy general equilibrium model to investigate the effects of government energy policy, with emphasis on corn-based ethanol, on the U.S. economy. The model specification incorporates world and domestic markets, assumes pollution costs from fuel consumption, and allows...