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An Economic Impact Analysis of the 2014 Farm Bill on the U.S. Crop Sector

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  • Rhew, Chan-hee

Abstract

This study establishes a U.S. crop model containing 14 commodities to analyze economic impacts of changes in the 2014 Farm Bill. The forecasting results under the alternative scenario are in line with theoretical expectations. The 2014 Farm Bill is forecasted to decrease expected net returns (ENRs) for producers. The expected changes are in favor of consumers at the cost of producer surplus. Without substantially affecting producers’ planting decision, the 2014 Farm Bill is forecasted to contribute to the Federal budget deficit reduction.

Suggested Citation

  • Rhew, Chan-hee, 2015. "An Economic Impact Analysis of the 2014 Farm Bill on the U.S. Crop Sector," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 38(1), pages 1-31, March.
    • Handle: RePEc:ags:jordng:229787
    DOI: 10.22004/ag.econ.229787
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