The risks confronted by grain and cotton farmers are of particular interest, given the changing role of the Government after passage of the 1996 Farm Act. With the shift toward less government intervention in the post-1996 Farm Act environment, a more sophisticated understanding of risk and risk...

U.S farms are becoming increasingly specialized, limiting the usefulness of traditional aggregate analysis. This report identifies data limitations, advantages in estimating farm income by type of farm, and the implications of SIC-based measures. The potential relationships between the SIC type...

This report documents the updated version of the Partial Equilibrium Agricultural Trade Simulation (PEATSim) model developed by USDA’s Economic Research Service. PEATSim is a global model, covering 31 commodities and 27 countries/regions. The model, consistent with economic theory, provides a...

The studies in this report analyze the effects of decoupled payments in the Federal Agriculture Improvement and Reform (FAIR) Act on recipient households, and assess land, labor, risk management, and capital market conditions that can lead to links between decoupled payments and production...

The economic development of South Korea is often considered a model for developing countries. We use 1975 and 1990 data in a general equilibrium framework with a highly disaggregated sector specification to evaluate the opportunity cost of its agricultural protection. We show that although...

Agricultural trade barriers and producer subsidies inflict real costs, both on the countries that use these policies and on their trade partners. Trade barriers lower demand for trade partners' products, domestic subsidies can induce an oversupply of agricultural products which depresses world...