Financial Implications Of A New Farm Policy Environment
AbstractThe 1996 Federal Agriculture Improvement and Reform (FAIR) Act dramatically affects the decision-making environment of farms by introducing provisions for reducing farm income support payments. These program changes are likely to affect not only farm incomes, but also farm capital asset markets. The combined effect of these two financial variables is expected to alter the risk position and the debt repayment capacity on farms. Empirical results of this analysis indicate that the absence of farm income support payments reduces debt repayment capacity and increases the risk position on a representative Louisiana cotton-soybean farm.
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Bibliographic InfoArticle provided by Agricultural Economics Association of Georgia in its journal Journal of Agribusiness.
Volume (Year): 18 (2000)
Issue (Month): 3 ()
debt repayment; farm policy; financial leverage; safety-first model; Agricultural and Food Policy; Agricultural Finance;
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- Patricia A. Duffy & C. Robert Taylor & Danny L. Cain & George J. Young, 1994. "The Economic Value of Farm Program Base," Land Economics, University of Wisconsin Press, vol. 70(3), pages 318-329.
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