The Food Security Act of 1985 permits payment of farm program benefits in part with PIK certificates. PIK certificates can do things that cash alone cannot do. This special capacity gives PIK certificates special value. A market determined premium has existed for them from the beginning. Briefly...

With the current federal farm bill set to expire at the end of September this year, many proposals have been made to redesign the next bill. The objectives of this study are to compare the current policy with major proposed alternatives and estimate the potential payments of farmers under each...

Replaced with revised version of paper 11/24/08.

With the current federal farm bill expired as of the end of September this year, many proposals have been made to redesign the next bill. The objective of this study is to compare the current policy with major proposed alternatives by estimating the potential payments for 17 example farms in...