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Yield Reserve Program Costs in the Virginia Coastal Plain

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Author Info
Metcalfe, Todd
Bosch, Darrell J.
Pease, James W.
Alley, Mark M.
Phillips, Steve B.
Abstract

A proposed Yield Reserve Program designed to compensate farmers for any reduced yields resulting from nitrogen (N) application rates reduced to below recommended rates is evaluated. Assuming that farmers currently follow Extension recommendations for applying N, Yield Reserve Program participation reduces expected net revenue by $10 to $13/ha. The Yield Reserve Program reduces expected net revenue by $17 to $20/ha for farmers who apply N to maximize expected net revenue. Farmers’ costs of participation increase with lower probabilities of inadequate rainfall and higher corn prices and decline with higher N prices. The Yield Reserve Program can significantly reduce N applications to cropland, which may reduce N content of surface waters, but the costs to taxpayers and farmers will depend on how the program is implemented.

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File URL: http://purl.umn.edu/44697
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Publisher Info
Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

Volume (Year): 36 (2007)
Issue (Month): 2 (October)
Pages:
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Handle: RePEc:ags:arerjl:44697

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Related research
Keywords: compliance cost; nitrogen fertilizer; nonpoint source pollution; policy; yield response function; Agricultural and Food Policy; Crop Production/Industries;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Ribaudo, Marc O. & Horan, Richard D. & Smith, Mark E., 1999. "Economics of Water Quality Protection from Nonpoint Sources: Theory and Practice," Agricultural Economics Reports 33913, United States Department of Agriculture, Economic Research Service. [Downloadable!]
  2. McCann, Laura & Easter, K. William, 2000. "Estimates Of Public Sector Transaction Costs In Nrcs Programs," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(03), December. [Downloadable!]
  3. Rosegrant, Mark W. & Roumasset, James A., 1985. "The Effect Of Fertiliser On Risk: A Heteroscedastic Production Function With Measurable Stochastic Inputs," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 29(02), August. [Downloadable!]
  4. JunJie Wu & Richard M. Adams & Catherine L. Kling & Katsuya Tanaka, 2004. "From Microlevel Decisions to Landscape Changes: An Assessment of Agricultural Conservation Policies," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 86(1), pages 26-41, 02. [Downloadable!] (restricted)
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  5. Pease, James W., 1992. "A Comparison Of Subjective And Historical Crop Yield Probability Distributions," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(02), December. [Downloadable!]
  6. Satya Yadav & Willis Peterson & K. Easter, 1997. "Do farmers overuse nitrogen fertilizer to the detriment of the environment?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(3), pages 323-340, April. [Downloadable!] (restricted)
  7. Lambert, David K., 1990. "Risk Considerations In The Reduction Of Nitrogen Fertilizer Use In Agricultural Production," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(02), December. [Downloadable!]
  8. Ribaudo, Marc O. & Heimlich, Ralph & Claassen, Roger & Peters, Mark, 2001. "Least-cost management of nonpoint source pollution: source reduction versus interception strategies for controlling nitrogen loss in the Mississippi Basin," Ecological Economics, Elsevier, vol. 37(2), pages 183-197, May. [Downloadable!] (restricted)
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