The supply response of U.S. rice: how decoupled are income payments?
This study examines the decoupled nature of direct payments and counter-cyclical payments to determine if they have an impact on U.S. rice area harvested. A naïve expectations model was specified, with the results indicating that direct payments are decoupled; however, counter-cyclical are not. Overall, the results indicate that a change in the expected gross margin or counter-cyclical payments would stimulate a supply response in rice production. The lack of a significant amount of time-series data renders results of this analysis as preliminary.
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Staff General Research Papers
1207, Iowa State University, Department of Economics.
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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).
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- Westcott, Paul C. & Young, C. Edwin & Price, J. Michael, 2002. "The 2002 Farm Act: Provisions And Implications For Commodity Markets," Agricultural Information Bulletins 33745, United States Department of Agriculture, Economic Research Service.
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