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The Empirical Distribution of the Costs of Revenue-Based Commodity Support Programs-Estimates and Policy Implications

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  • Joseph Cooper

Abstract

This paper demonstrates how the density function of the U.S. domestic commodity support payments for corn differs between current price-based approaches to support and a revenue-based alternative. Comparing across program scenarios that provide equal expected levels of support at the national level, the revenue-based scenario exhibits a lower variability around total expected annual payments, and perhaps more importantly, a lower probability of high payments than the current-style support. Furthermore, for the vast majority of corn-producing counties in the United States, the coefficient of variation of total gross revenue per acre is lower under the revenue-based support scenario than under the current-style scenario. Copyright 2009 Agricultural and Applied Economics Association

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  • Joseph Cooper, 2009. "The Empirical Distribution of the Costs of Revenue-Based Commodity Support Programs-Estimates and Policy Implications," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(2), pages 206-221, June.
  • Handle: RePEc:oup:revage:v:31:y:2009:i:2:p:206-221
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    1. Paulson, Nicholas D. & Babcock, Bruce A., 2008. "Get a Grip: Should Area Revenue Coverage Be Offered Through the Farm Bill or as a Crop Insurance Program?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2), August.
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    Cited by:

    1. Arnade, Carlos Anthony & Cooper, Joseph C., 2012. "Acreage Response under Varying Risk Preferences," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), December.
    2. Cooper, Joseph C., 2009. "Economic Aspects of Revenue-Based Commodity Support," Economic Research Report 55838, United States Department of Agriculture, Economic Research Service.

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