The agricultural economies of Australia and the United States experienced a major boom in the 1970s and a major bust in the 1980s. This paper examines the contribution of macroeconomic policy to these phenomena in the two countries over the last twenty years. We find that the observed...

Simulations of the U.S. dairy industry under a variety of conditions indicate that milk price variability would be considerably greater in the absence of price supports. Milk production would also be more variable, but significantly less than would milk prices. Summary statistics for the 1955-78...

The Food Security Act of 1985 sets the United States (U.S.) policy course for the five years, 1986-1990, in the areas of farm product prices and farmer incomes, agricultural production, food aid, and trade in agricultural products. It is clearly an evolution of past policy, deeply rooted in the...

This paper reports the results of a study of the economic content and the decision-making process of the recently adopted U.S. 1990 agricultural and food policy. It is the most comprehensive policy of its type. It represents the broadest participation of private individuals and interests groups,...

As an aid to providing expanded and more complete information to agricultural policymakers, an agricultural policy simulator (POLYSIM) was developed and used to analyze alternative agricultural policy proposals and economic conditions. This report describes what POLYSIM does and the types of...