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Economic Consequences Of Federal Farm Commodity Programs, 1953-72

Author

Listed:
  • Nelson, Frederick J.
  • Cochrane, Willard W.

Abstract

Farm programs of the Federal Government kept farm prices and incomes higher than they otherwise would have been in 1953-65, thereby providing economic incentives to growth in output sufficient to keep farm prices lower than otherwise during 1968-72. The latter result differs significantly from findings in other historical free market studies. These conclusions stem from an analysis of the programs in which a two-sector (crops and livestock) econometric model was used to simulate historical and free-market production, price, and resource adjustments in U.S. agriculture. Supplies are affected by risk and uncertainty in the model, and farm technological change is endogenous.

Suggested Citation

  • Nelson, Frederick J. & Cochrane, Willard W., 1976. "Economic Consequences Of Federal Farm Commodity Programs, 1953-72," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 28(2), pages 1-13, April.
    • Handle: RePEc:ags:uersja:147691
    DOI: 10.22004/ag.econ.147691
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    Citations

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    Cited by:

    1. Richardson, James W. & Smith, Edward G. & Knutson, Ronald D., 1988. "Who Benefits from Farm Programs: Size and Structure Issues?," Staff Reports 257911, Texas A&M University, Agricultural and Food Policy Center.
    2. Teigen, Lloyd D., 1988. "Agricultural Policy, Technology Adoption, and Farm Structure," Staff Reports 278118, United States Department of Agriculture, Economic Research Service.
    3. Abebe, Kassahun & Dahl, Dale C. & Olson, Kent D., 1989. "The Demand For Farm Machinery," Staff Papers 14194, University of Minnesota, Department of Applied Economics.
    4. Knutson, Ronald D. & Smith, Edward G. & Richardson, James W., 1990. "The Incidence of Farm Program Benefits: Implications for Payment Limit Policies," Working Papers 258045, Texas A&M University, Agricultural and Food Policy Center.
    5. Richardson, James W. & Smith, Edward G. & Knutson, Ronald D., 1988. "Who Benefits From Farm Programs: Size And Structure Issues?," 1988 Conference, January 16-19, San Antonio, Texas 260102, Regional Research Committe NC-181: Determinants of Farm Size and Structure.
    6. Tweeten, Luther G., 1985. "Are Current U.S. Farm Commodity Programs Outdated? Arguments In The Affirmative," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-11, December.
    7. Breimyer, Harold F. & Drache, Hiram M. & Heffernan, William D. & Rossiter, V. E. & Heinkel, Fred V. & Hill, Frances & Woods, W. Fred & Fischer, Loyd K. & Rhodes, V. James & Paarlberg, Don & Raup, Phil, 1978. "Can the Family Farm Survive?," Miscellaneous Reports 257828, University of Missouri Columbia, Department of Agricultural Economics.

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