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Restricting the Market for Quota: An Analysis of Tobacco Production Rights with Corroboration from Congressional Testimony

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  • Rucker, Randal R
  • Thurman, Walter N
  • Sumner, Daniel A
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    Abstract

    Regulatory programs that restrict output levels often impose restrictions on the transfer of rights to produce or to use particular inputs. In this paper, the authors use a unique cross-section, time-series data set from North Carolina to quantify the welfare effects of transfer restrictions for poundage quota under the U.S. flue-cured tobacco program. The authors find that the deadweight costs of such restrictions are small but that the distributional effects are substantial. The authors analyze congressional testimony on quota transfer legislation and conclude that their estimates of the distributional effects are consistent with expressed views of market participants. Copyright 1995 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): 103 (1995)
    Issue (Month): 1 (February)
    Pages: 142-75

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    Handle: RePEc:ucp:jpolec:v:103:y:1995:i:1:p:142-75

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

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    Cited by:
    1. Skully, David W., 2000. "U.S. Trqs For Peanuts, Sugar, And Tobacco: Historical Allocation And Nondiscrimination," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(1), April.
    2. Ciaian, Pavel & Kancs, d'Artis & Swinnen, Johan F.M., 2012. "European Union Land Markets and the Common Agricultural Policy," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126683, International Association of Agricultural Economists.
    3. Bureau, Jean-Christophe & Guyomard, Herve & Requillart, Vincent, 2001. "On inefficiencies in the European sugar regime," Journal of Policy Modeling, Elsevier, vol. 23(6), pages 659-667, August.
    4. Ciaian, Pavel & Kancs, d’Artis & Swinnen, Jo, 2012. "Income Distributional Effects of Decoupled Payments: Single Payment Scheme in the European Union," Factor Markets Working Papers 134, Centre for European Policy Studies.
    5. Jaclyn D. Kropp & James B. Whitaker, 2011. "The impact of decoupled payments on the cost of operating capital," Agricultural Finance Review, Emerald Group Publishing, vol. 71(1), pages 25-40, May.
    6. Just, David R. & Kropp, Jaclyn D., 2009. "Production Incentives from Static Decoupling: Entry, Exit and Use Exclusion Restrictions," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49158, Agricultural and Applied Economics Association.
    7. Skully, David W., 1999. "The Economics Of Trq Administration," Working Papers 14584, International Agricultural Trade Research Consortium.
    8. Kropp, Jaclyn D. & Whitaker, James B., 2009. "The Impact of Decoupled Payments on the Cost of Operating Capital," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49311, Agricultural and Applied Economics Association.
    9. Bogetoft, Peter & Jensen, Peter Max Friis & Nielsen, Kurt & Olesen, Henrik Ballebye & Olsen, Rene H., 2002. "Single Bid Restriction in Milk Quota Exchanges - Comparing the Danish and the Ontario Exchanges," Unit of Economics Working papers 24181, Royal Veterinary and Agricultural University, Food and Resource Economic Institute.
    10. Peckham, Janet G. & Kropp, Jaclyn D., 2012. "Decoupled Direct Payments under Base Acreage and Yield Updating Uncertainty: An Investigation of Agricultural Chemical Use," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(2), August.
    11. Sumner, Daniel A., 1995. "Farm Programs And Related Policy In The United States," Understanding Canada\United States Grain Disputes; Proceedings of the 1st Canada\U.S. Agricultural and Food Policy Systems Information Workshop - 1995 16742, Farm Foundation, Agricultural and Food Policy Systems Information Workshops.

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