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...

China is the world's largest producer and consumer of food. In the past, China's governmental policy advocated regional self-sufficiency in agricultural production, and it is generally believed that regional self-sufficiency was enforced at high economic cost. However, this changed with the 1979...

This paper investigates the pricing efficiency and hedging effectiveness of the Winnipeg barley futures market, using the Chicago corn futures market as a norm. Several tests of pricing efficiency were conducted and the stability of the basis was studied. The barley futures market operates in a...

A model of farmland accumulation analyzes the impact of credit allocation and the level of debt on farmland prices. The model stresses the importance of the real net wealth accumulated by the farming sector on the lending procedures for farmland purchases. It is shown that credit allocated on...

This paper discusses the interface between the U.S. agricultural policy and the economic gains from exports. The theory shows that the net gains from trade after government subsidies are accounted for can be small or nonexistent. Some empirical evidence is discussed to support this claim. Policy...