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The End of the Federal Tobacco Program: Economic Impacts of the Deregulation of U.S. Tobacco Production

Author

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  • A. Blake Brown
  • Randal R. Rucker
  • Walter N. Thurman

Abstract

In 2004, Congress ended the sixty-six-year-old federal tobacco program, effectively deregulating production and prices. With deregulation came a buyout package, with cigarette manufacturers agreeing to pay more than $3 billion in present value to quota owners and farmers. While the dollar values of compensation payments are known, the effects of the historic legislation on tobacco markets are uncertain. We examine these effects and their welfare consequences. We also consider the appropriateness of the buyout payments under alternative views of economic damages due to the quota system's demise. Copyright 2007, Oxford University Press.

Suggested Citation

  • A. Blake Brown & Randal R. Rucker & Walter N. Thurman, 2007. "The End of the Federal Tobacco Program: Economic Impacts of the Deregulation of U.S. Tobacco Production," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 29(4), pages 635-655.
    • Handle: RePEc:oup:revage:v:29:y:2007:i:4:p:635-655
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    File URL: http://hdl.handle.net/10.1111/j.1467-9353.2007.00378.x
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    Cited by:

    1. David Orden & David Blandford & Timothy Josling, 2009. "Determinants of Farm Policies in the United States, 1996-2008," World Bank Publications - Reports 28160, The World Bank Group.
    2. Sullivan, Sarah & Glantz, Stanton, 2010. "The changing role of agriculture in tobacco control policymaking: A South Carolina case study," Social Science & Medicine, Elsevier, vol. 71(8), pages 1527-1534, October.
    3. Andrew Schmitz & Dwayne J. Haynes & Troy G. Schmitz, 2016. "Alternative Approaches to Compensation and Producer Rights," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 64(3), pages 439-454, September.
    4. Dohlman, Erik & Foreman, Linda F. & Da Pra, Michelle, 2009. "The Post-Buyout Experience: Peanut and Tobacco Sectors Adapt to Policy Reform," Economic Information Bulletin 56628, United States Department of Agriculture, Economic Research Service.
    5. Dohlman, Erik & Foreman, Linda F. & Da Pra, Michelle, 2010. "Post-Buyout Structural Change in the Peanut and Tobacco Sectors," 2010 Annual Meeting, February 6-9, 2010, Orlando, Florida 56355, Southern Agricultural Economics Association.

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