This paper seeks to explain the causes of the long-term variation in food and agricultural prices compared to the overall price level in the United States, over the period of 1974-1996. Using cointegration methods, this study confirms a general consensus of long-run neutrality of national money...

The paper emphasizes three interrelated questions about the decline in relative farm to non-farm prices in the United States since 1973; 1) Is it unusual, 2) What caused it, and 3) Is it likely to continue? We find that based on historical and international evidence this phenomenon may be considered...

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) decouples government farm subsidy payments from both price and production and provides farmers with nearly complete planting flexibility. Government spending under this act will be limited to $35.63 billion for 1996-2002...

The World Sugar Policy Simulation Model is a dynamic, partial equilibrium, net trade model. It distinguishes 18 countries and regions, and sugar is assumed to be a homogenous commodity. The model is designed for evaluating the effects on the world sugar economy of farm and trade policies by...

This report evaluates the U.S. and world wheat markets for the 1998-2008 period by using the World Wheat Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, the weather, and technological change. Both the U.S. and...

Various farm organizations and political parties are taking sides on whether the FAIR Act needs to be scraped or just modified. This study analyzes three such proposals: the U.S. House of Representatives proposal (H.R. 2646), the American Farm Bureau proposal, and the National Farmers Union...

This report evaluates the U.S. and world sugar markets for 2010-2020 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and...

This report evaluates the U.S. and world sugar markets for 1998-2008 by using the World Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S....