The effects of policy expectations on crop supply, with an application to base updating

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dc.contributor.author Hendricks, Nathan P.
dc.contributor.author Sumner, Daniel A.
dc.date.accessioned 2014-09-16T18:35:40Z
dc.date.available 2014-09-16T18:35:40Z
dc.date.issued 2014-09-16
dc.identifier.uri http://hdl.handle.net/2097/18325
dc.description.abstract We develop a dynamic model to assess the effects of policy expectations on crop supply and illustrate the approach with estimates of the effects of base updating in U.S. crop programs. For corn and soybeans in the Corn Belt, the effect of base updating is relatively small because relevant crop alternatives are subject to similar policies and the alternatives are substitutes in production. Increasing acreage of one program crop to capture future payments from base updating reduces future payments from the alternative crop. We also use our model to assess the effect of base updating on acreage response to prices. en_US
dc.language.iso en_US en_US
dc.relation.uri http://ajae.oxfordjournals.org/content/96/3/903.full en_US
dc.rights Permission to archive granted by Agricultural and Applied Economics Association, June 19, 2014. © The Author (2014). Published by Oxford University Press on behalf of the Agricultural and Applied Economics Association. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com en_US
dc.subject Agricultural policy en_US
dc.subject Base updating en_US
dc.subject Decoupled payments en_US
dc.title The effects of policy expectations on crop supply, with an application to base updating en_US
dc.type Article (publisher version) en_US
dc.date.published 2014 en_US
dc.citation.doi doi:10.1093/ajae/aat090 en_US
dc.citation.epage 923 en_US
dc.citation.issue 3 en_US
dc.citation.jtitle American Journal of Agricultural Economics en_US
dc.citation.spage 903 en_US
dc.citation.volume 96 en_US
dc.contributor.authoreid nph en_US


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