Combining depth, length and breadth, the Great Recession is the worst economic downturn that the US economy has suffered since the Great Depression. Among other things, the recession reduced household income, caused significant changes in food prices and increased consumer uncertainties. These...

The United States imposed a tariff-rate quota (TRQ) on lamb meat in July 1999. Early analysis suggested the possibility that lamb growers could lose welfare via the creation of packer market power. This paper considers how subsequent events modify that analysis. Observed prices suggest reduced...