IDEAS home Printed from https://ideas.repec.org/p/ags/nddaae/23524.html
   My bibliography  Save this paper

Analysis Of The 2002 Farm Bill And New Farm Bill Alternatives

Author

Listed:
  • Taylor, Richard D.
  • Koo, Won W.

Abstract

This report evaluates the 2002 farm bill and the effects of the individual programs within the bill on North Dakota net farm income. A stochastic simulation model was developed, using @Risk by Palisade. @Risk replaces the mean values for price and yield with a distribution of values for the eight major commodities grown in North Dakota. The counter-cyclical (target price) program, marketing loan program, and federal crop insurance benefits were separated and analyzed to determine which components were the most important to North Dakota producers. The U.S. Trade Representative offered to decrease the country's trade distorting subsidies by 60% if the European Union would lower its export subsidies 75%. The study estimates the impact of that plan. Two additional scenarios, a revenue insurance plan and an income insurance plan, were evaluated. Both plans were compared to the scenarios of no government support and the current legislation. The insurance plans support either revenue or income at the 70% level, as suggested by the World Trade Organization.

Suggested Citation

  • Taylor, Richard D. & Koo, Won W., 2006. "Analysis Of The 2002 Farm Bill And New Farm Bill Alternatives," Agribusiness & Applied Economics Report 23524, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaae:23524
    DOI: 10.22004/ag.econ.23524
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/23524/files/aer578.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.23524?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Agricultural and Food Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nddaae:23524. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dandsus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.