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Sectoral Implications of Farm Program Modifications

Author

Listed:
  • Ching-Cheng Chang
  • Bruce A. McCarl
  • James W. Mjelde
  • James W. Richardson

Abstract

The overall and distributional effects of farm programs and selected revisions are examined using a mathematical programming sector model. The model incorporates market distortions caused by price supports, target prices, program participation, deficiency payments and marketing loans. Current farm programs are found to increase producer prices, depress consumer prices, and in turn result in excess production and higher consumption and exports. Domestic and foreign consumers as well as domestic producers are subsidized by farm programs. Social deadweight loss occurs as government payments exceed welfare benefits received by consumers and producers. Society as a whole benefits from reductions in program provisions.

Suggested Citation

  • Ching-Cheng Chang & Bruce A. McCarl & James W. Mjelde & James W. Richardson, 1992. "Sectoral Implications of Farm Program Modifications," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 38-49.
    • Handle: RePEc:oup:ajagec:v:74:y:1992:i:1:p:38-49.
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