The biofuel industry has been rapidly growing around the world in recent years. Several papers have used general equilibrium models and addressed the economy-wide and environmental consequences of producing biofuels at a large scale. They mainly argue that since biofuels are mostly produced from...

Paper removed by authors for revision - 3/13/08.

A global CGE model featuring agricultural sector detail is used to assess WTO agricultural reform. Parametric uncertainty is considered with model results evaluated based on confidence intervals. We find that continued shift in domestic support to green box payments maintains farmer welfare...

Corn producers frequently have been told that the sugar program provides an important stimulus to corn demand through its positive influence on the high fructose corn syrup sector. In this article we qualify the extent of this support and find it to be very small- not more than 3 cents per...

Liberalization of trade implies changes in producer prices, which has consequences for farm income, agricultural employment and asset values. The relative incidence of the effect of changes in prices on fixed factors depends on the rclative magnitude of the Morishima elasticities of substitution...

This paper incorporates commodity stockholding into a short run, stochastic global general equilibrium model. A mix of econometric and calibration techniques are used to reconcile model outcomes with historical stockholding and price behavior. The resulting framework is useful for analyzing...

An AGE model with detailed farm supply and substitution relationships is used to analyze impacts of OECD domestic support reform on developing economy welfare. Stylized simulations indicate reforms best suited for reducing trade distortions with least impact on farm incomes. Comprehensive...

Projections of world food demands hinge critically on the underlying functional form used to predict future demands. Simple functional forms can lead to unrealistic projections by failing to capture changes in income elasticities of demand as consumer becomes wealthier. This paper compares...

Choices: The Magazine of Food, Farm, and Resource Issues, Second Quarter The East Asian crisis is not all bad news for the United States and Canada (North America). Net debtors in North America – be they individual families refinancing their mortgages, businesses financing their expansion, or...