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Effect of Decoupled Payments on U.S. Agricultural Production

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  • Kim, Tae-Hun
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    Abstract

    In the current WTO negotiations, the developing and the developed countries take opposite view regarding the criteria for green box subsidies supposed to be decoupled from current production levels and prices. This study investigates whether U.S. PFC and direct payment subsidies are truly decoupled from production or not by modeling the farmers' risk attitudes in a non-structural approach and estimating the effect of decoupled payments on production by the change in risk attitudes. The effect of decoupled payments is not only statistically insignificant on corn and soybean acreage but also very small in magnitude.

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    File URL: http://purl.umn.edu/45684
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    Bibliographic Info

    Article provided by Korea Rural Economic Institute in its journal Journal of Rural Development/Nongchon-Gyeongje.

    Volume (Year): 31 (2008)
    Issue (Month): 5 (November)
    Pages:

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    Handle: RePEc:ags:jordng:45684

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    Related research

    Keywords: Decoupled payments; PFC payments; risk attitude; nonstructural approach; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Community/Rural/Urban Development; International Relations/Trade;

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    1. Renan-Ulrich Goetz & Alois Keusch & Joan Ribas-Tur, 2005. "The Efficiency of Direct Payments versus Tax Reductions under Uncertainty," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 141(I), pages 115-127, March.
    2. Key, Nigel D. & Lubowski, Ruben N. & Roberts, Michael J., 2004. "The 1996 Federal Agriculture Improvement and Reform Act: Correcting a Distortion?," 2004 Annual meeting, August 1-4, Denver, CO 20128, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Mary E. Burfisher & Sherman Robinson & Karen Thierfelder, 2000. "North American Farm Programs and the WTO," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 768-774.
    4. C. Edwin Young & Paul C. Westcott, 2000. "How Decoupled Is U.S. Agricultural Support for Major Crops?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 762-767.
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