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General Equilibrium Analysis of Supply Control in U.S. Agriculture

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  • Hertel, Thomas W
  • Tsigas, Marinos E

Abstract

This paper provides a general equilibrium analysis of several alternative supply control measures currently employed (or proposed) for U.S. agriculture. Results confirm that acreage controls generate a large marginal excess burden. However, tradeable output quotas are found to be marginally welfare improving in the aggregate. This second-best outcome reflects the benefits associated with a reduction in policy-induced excess capacity. Permitting production in excess of the quota to be sold overseas, as has been proposed, is shown to dissipate most of the domestic gains from output controls. The paper closes with a discussion of first-best alternatives to supply control. Copyright 1991 by Oxford University Press.

Suggested Citation

  • Hertel, Thomas W & Tsigas, Marinos E, 1991. "General Equilibrium Analysis of Supply Control in U.S. Agriculture," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 18(2), pages 167-191.
    • Handle: RePEc:oup:erevae:v:18:y:1991:i:2:p:167-91
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    Cited by:

    1. Hertel, Thomas W., 1991. "Applied General Equilibrium Analysis of Agricultural Policies," Staff Papers 200396, Purdue University, Department of Agricultural Economics.
    2. Bullock, David S. & Salhofer, Klaus, 2003. "Judging agricultural policies: a survey," Agricultural Economics, Blackwell, vol. 28(3), pages 225-243, May.
    3. Go, Delfin S. & Kearney, Marna & Robinson, Sherman & Thierfelder, Karen, 2004. "An Analysis of South Africa's Value Added Tax," Conference papers 331274, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    4. Alexandre Gohin & Herve Guyomard & Chantal Le Mouël, 2006. "Tariff protection elimination and Common Agricultural Policy reform: implications of changes in methods of import demand modelling," Applied Economics, Taylor & Francis Journals, vol. 38(13), pages 1527-1539.
    5. Alexandre Gohin & Hervé Guyomard, 1999. "Agenda 2000, dairy policy instruments and farm milk price," Post-Print hal-01931591, HAL.
    6. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    7. Sherony, Keith R. & Knowles, Glenn J. & Boyd, Roy, 1991. "The Economic Impact Of Crop Losses: A Computable General Equilibrium Approach," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-12, July.
    8. Aradhyula, Satheesh Venkata, 1989. "Policy structure, output supply and input demand for US crops," ISU General Staff Papers 198901010800009909, Iowa State University, Department of Economics.

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