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Price Support, Acreage Controls, and Efficient Redistribution

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  • Gisser, Micha
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    Abstract

    This study is concerned with the combination of target price and acreage controls as the two major mechanisms of farm policy. Acreage controls are shown to enhance the efficiency of redistribution under a target price program. More specifically, this study demonstrates that, if the traditional Cobb-Douglas production function is assumed, acreage controls do not enhance the efficiency of target price programs in the process of redistributing income to the farm sector. The study proves that, if the elasticity of substitution between land and all other inputs is less than one, then the income redistributional costs are likely to be reduced. Copyright 1993 by University of Chicago Press.

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    Bibliographic Info

    Article provided by University of Chicago Press in its journal Journal of Political Economy.

    Volume (Year): 101 (1993)
    Issue (Month): 4 (August)
    Pages: 584-611

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    Handle: RePEc:ucp:jpolec:v:101:y:1993:i:4:p:584-611

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    Web page: http://www.journals.uchicago.edu/JPE/

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    Cited by:
    1. Bullock, David S. & Salhofer, Klaus, 2003. "Judging agricultural policies: a survey," Agricultural Economics, Blackwell, vol. 28(3), pages 225-243, May.
    2. Salhofer, Klaus & Schmid, Erwin, 2004. "Distributive leakages of agricultural support: some empirical evidence," Agricultural Economics, Blackwell, vol. 30(1), pages 51-62, January.
    3. Crepin, Anne-Sophie & Jayet, Pierre-Alain, 2002. "Set-Aside versus Quotas in Contracts for Agro-Environmental Regulation," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24950, European Association of Agricultural Economists.
    4. Bullock, D. S. & Salhofer, K., 1998. "Measuring the social costs of suboptimal combinations of policy instruments: A general framework and an example," Agricultural Economics, Blackwell, vol. 18(3), pages 249-259, May.
    5. Sergio H. Lence & Dermot J. Hayes, 2002. "U.S. Farm Policy and the Volatility of Commodity Prices and Farm Revenues," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 335-351.
    6. Ando, Amy, 1998. "Do Interest Groups Compete?," Discussion Papers dp-98-14, Resources For the Future.
    7. Alston, Julian M. & Smith, Vincent H. & Acquaye, Albert & Hosseini, Safdar, 1999. "Least-cost cheap-food policies: some implications of international food aid," Agricultural Economics, Blackwell, vol. 20(3), pages 191-201, May.
    8. Bullock, David S. & Salhofer, Klaus, 1998. "A Note On The Efficiency Of Income Redistribution With Simple And Combined Policies," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
    9. Bourgeon, Jean-Marc & Jayet, Pierre-Alain & Picard, Pierre, 1995. "An incentive approach to land set-aside programs," European Economic Review, Elsevier, vol. 39(8), pages 1487-1509, October.
    10. Fertő, Imre, 1998. "Az agrárpolitika politikai gazdaságtana I. A kormányzati politikák modellezése a mezőgazdaságban
      [The political economy of agrarian politics. Part I. Modeling of governmental policies in agr
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 223-246.
    11. Pierre R. Mérel, 2008. "On the Deadweight Cost of Production Requirements for Geographically Differentiated Agricultural Products," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(3), pages 642-655.

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