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Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields

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  • Foster, William E.
  • Babcock, Bruce A.

Abstract

We estimate the influence of policy-induced price changes and of technology supply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 25 (1993)
Issue (Month): 01 (July)
Pages:

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Handle: RePEc:ags:joaaec:15194

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: Commodity policy; Endogenous yield growth; Flue-cured tobacco; Technical change; Agricultural and Food Policy; Demand and Price Analysis; Research and Development/Tech Change/Emerging Technologies;

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References

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  1. Love, H. Alan & Foster, William E., 1990. "Commodity Program Slippage Rates For Corn And Wheat," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(02), December.
  2. Kim, Tae-Kyun & Hayes, Dermot J. & Hallam, Arne, 1992. "Technology Adoption Under Price Uncertainty," Staff General Research Papers 446, Iowa State University, Department of Economics.
  3. Miranowski, John & Tegene, Abebayehu & Huffman, Wallace, 1988. "Dynamic Corn Supply Functions: A Model with Explicit Optimization," Staff General Research Papers 10699, Iowa State University, Department of Economics.
  4. Hoag, Dana L. & Babcock, Bruce A. & Foster, William E., 1993. "Field-Level Measurements of Land Productivity and Program Slippage," Staff General Research Papers 10586, Iowa State University, Department of Economics.
  5. Rausser, Gordon C. & Zilberman, David & Just, Richard E., 1984. "The Distributional Effects Of Land Controls In Agriculture," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(02), December.
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Cited by:
  1. Roman Keeney & Thomas W. Hertel, 2008. "U.S. Market Potential For Dried Distillers Grain With Solubles," Working Papers 08-13, Purdue University, College of Agriculture, Department of Agricultural Economics.
  2. Nalley, Lawton Lanier & Barkley, Andrew P. & Chumley, Forrest G., 2008. "The Impact of the Kansas Wheat Breeding Program on Wheat Yields, 1911–2006," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(03), December.
  3. Borges, Robert B., 1995. "Trade And The Political Economy Of Agricultural Policy: The Case Of The United States Peanut Program," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(02), December.

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