Effect of Decoupled Payments on U.S. Agricultural Production
In the current WTO negotiations, the developing and the developed countries take opposite view regarding the criteria for green box subsidies supposed to be decoupled from current production levels and prices. This study investigates whether U.S. PFC and direct payment subsidies are truly decoupled from production or not by modeling the farmers' risk attitudes in a non-structural approach and estimating the effect of decoupled payments on production by the change in risk attitudes. The effect of decoupled payments is not only statistically insignificant on corn and soybean acreage but also very small in magnitude.
Volume (Year): 31 (2008)
Issue (Month): 5 (November)
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- Atanu Saha & C. Richard Shumway & Hovav Talpaz, 1994. "Joint Estimation of Risk Preference Structure and Technology Using Expo-Power Utility," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(2), pages 173-184.
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- Renan-Ulrich Goetz & Alois Keusch & Joan Ribas-Tur, 2005.
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- Key, Nigel D. & Lubowski, Ruben N. & Roberts, Michael J., 2004. "The 1996 Federal Agriculture Improvement and Reform Act: Correcting a Distortion?," 2004 Annual meeting, August 1-4, Denver, CO 20128, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- C. Edwin Young & Paul C. Westcott, 2000. "How Decoupled Is U.S. Agricultural Support for Major Crops?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 762-767. Full references (including those not matched with items on IDEAS)
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