The Economic Impact of Public Support to Agriculture: An International Perspective (Studies in Productivity and Efficiency Book 7)

The Recent Reforms Of The Common Agricultural Policy (cap) Of The European Union Extend In A Significant Way The Decoupling Process Started Some Ten Years Earlier. By Adopting The Single Farm Payment (sfp) Scheme Only Limited Support For Agriculture Is Tied To Current Production Decisions. This Is Also True Of U.s. Farm Policy. The Reform Act Of 1996 Introduced Greater Planting Flexibility, Shifted Some Support To Direct Payments, And Eliminated The Authority For Acreage Reduction Programs. The 2002 And 2008 Acts Retained These Features. However, They Added Countercyclical Components To Direct Payments Based On Market Prices And Historic Production, And Allowed For Updating Of Base Acreage Underlying Direct Payments. These Steps Arguably Reintroduced Ties Between Support And Production Decisions. This Volume Explores The Economic Implications Of These Recent Changes In The Design Of Agricultural Policies For The Economic Performance Of The Sector In The European Union And The United States. The Book Is Organized Around Five Themes: (1) New Directions In Agricultural Policy: U.s. And Eu Perspectives; (2) Agricultural Policy And Economic Performance; (3) Energy And Agricultural Policy; (4) International Trade And Agricultural Policy; And (5) Commodity Programs And Risk Management. The Authors Apply Rigorous Tools To Analyze The Impact And Implications Of Current Agricultural Policies On Efficiency, Productivity, And Competitiveness In The Sector, And Consider Opportunities For Improvement In Policymaking And Practice. --book Jacket. Recent Developments And Applications From The Oecd Toolbox / Carmel Cahill And Roger Martini -- Us And Eu Agricultural Policy: Divergence Or Convergence? / Andrew Schmitz And Troy G. Schmitz -- The Health Check Of The Cap Reform: Lessons From Its Impact Assessment / Tassos Haniotis -- The Incidence Of Us Farm Programs / Julian M. Alston -- Impact Of Subsidies On Farm Productivity And Efficiency / Subal C. Kumbhakar And Gudbrand Lien -- Productivity And Profitability Of Us Agriculture: Evidence From A Panel Of States / V. Eldon Ball ... [et Al.] -- Biofuels Expansion In A Changing Economic Environment: A Global Modeling Perspective / May Peters, Richard Stillman, And Agapi Somwaru -- Ethanol And Corn Prices: The Role Of Us Tax Credits, Mandates, And Imports / Harry De Gorter And David R. Just -- Modeling The Effects Of U.s. Biofuel Policies On Commodity And Energy Markets / C.s. Kim, Glenn Schaible, And Stan Daberkow -- Biofuels Versus Food Competition For Agricultural Resources: Impacts On The Eu Farming Systems / Massimo Canali And Maurizio Aragrande -- Wto Compliance And Domestic Farm Policy Change / Tim Josling -- Agricultural Competitiveness / V. Eldon Ball ... [et Al.] -- The Behavior Of Relative Food Prices: An Analysis Across The European Countries / Luciano Gutierrez, Cristina Brasili, And Roberto Fanfani -- The Political Economy Of The Us Crop Insurance Program / Bruce A. Babcock -- Aggregation And Arbitrage In Joint Production / V. Eldon Ball ... [et Al.] -- Standard And Bayesian Random Coefficient Model Estimation Of Us Corn-soybean Farmer Risk Attitudes / Michael Livingston, Ken Erickson, And Ashok Mishra. V. Eldon Ball, Roberto Fanfani, Luciano Gutierrez, Editors ; Foreword By David Blandford. Includes Bibliographical References And Index. Front Matter....Pages i-xi Front Matter....Pages 9-9 Introduction and Overview....Pages 1-8 Front Matter....Pages 9-9 Recent Developments and Applications from the OECD Toolbox....Pages 11-39 US and EU Agricultural Policy: Divergence or Convergence?....Pages 41-66 The “Health Check” of the CAP Reform: Lessons from Its Impact Assessment....Pages 67-79 The Incidence of US Farm Programs....Pages 81-105 Front Matter....Pages 107-107 Impact of Subsidies on Farm Productivity and Efficiency....Pages 109-124 Productivity and Profitability of US Agriculture: Evidence from a Panel of States....Pages 125-139 Front Matter....Pages 141-141 Biofuels Expansion in a Changing Economic Environment: A Global Modeling Perspective....Pages 143-154 Ethanol and Corn Prices: The Role of US Tax Credits, Mandates, and Imports....Pages 155-169 Modeling the Effects of U.S. Biofuel Policies on Commodity and Energy Markets....Pages 171-190 Biofuels Versus Food Competition for Agricultural Resources: Impacts on the EU Farming Systems....Pages 191-209 Front Matter....Pages 211-211 WTO Compliance and Domestic Farm Policy Change....Pages 213-241 Agricultural Competitiveness....Pages 243-271 The Behavior of Relative Food Prices: An Analysis across the European Countries....Pages 273-289 Front Matter....Pages 291-291 The Political Economy of the US Crop Insurance Program....Pages 293-308 Aggregation and Arbitrage in Joint Production....Pages 309-328 Standard and Bayesian Random Coefficient Model Estimation of US Corn–Soybean Farmer Risk Attitudes....Pages 329-343 Back Matter....Pages 345-348 Annotation The recent reforms of the Common Agricultural Policy (CAP) of the European Union extend in a significant way the €œdecoupling€ process started some ten years earlier. By adopting the Single Farm Payment (SFP) scheme only limited support for agriculture is tied to current production decisions. This is also true of U.S. farm policy. The reform act of 1996 introduced greater planting flexibility, shifted some support to direct payments, and eliminated the authority for acreage reduction programs. The 2002 and 2008 Acts retained these features. However, they added countercyclical components to direct payments based on market prices and historic production, and allowed for updating of base acreage underlying direct payments. These steps arguably reintroduced ties between support and production decisions. This volume explores the economic implications of these recent changes in the design of agricultural policies for the economic performance of the sector in the European Union and the United States.The book is organized around five themes: (1) New Directions in Agricultural Policy: U.S. and EU Perspectives; (2) Agricultural Policy and Economic performance; (3) Energy and Agricultural Policy; (4) International Trade and Agricultural Policy; and (5) Commodity Programs and Risk Management. The authors apply rigorous tools to analyze the impact and implications of current agricultural policies on efficiency, productivity, and competitiveness in the sector, and consider opportunities for improvement in policymaking and practice The recent reforms of the Common Agricultural Policy (CAP) of the European Union extend in a significant way the zdecouplingy process started some ten years earlier. By adopting the Single Farm Payment (SFP) scheme only limited support for agriculture is tied to current production decisions. This is also true of U.S. farm policy. The reform act of 1996 introduced greater planting flexibility, shifted some support to direct payments, and eliminated the authority for acreage reduction programs. The 2002 and 2008 Acts retained these features. However, they added countercyclical components to direct payments based on market prices and historic production, and allowed for updating of base acreage underlying direct payments. These steps arguably reintroduced ties between support and production decisions. This volume explores the economic implications of these recent changes in the design of agricultural policies for the economic performance of the sector in the European Union and the United States. The book is organized around five themes: (1) New Directions in Agricultural Policy: U.S. and EU Perspectives; (2) Agricultural Policy and Economic performance; (3) Energy and Agricultural Policy; (4) International Trade and Agricultural Policy; and (5) Commodity Programs and Risk Management. The authors apply rigorous tools to analyze the impact and implications of current agricultural policies on efficiency, productivity, and competitiveness in the sector, and consider opportunities for improvement in policymaking and practice Despite a gradual and sustained decline in the contribution of agriculture to the economies of the member countries of the Organization for Economic Cooperation and Development (OECD), the sector remains socially and politically important. Although agriculture accounts for less than 2% of the gross domestic product of the OECD countries, it occupies over 35% of their total land area. Predominantly rural regions, where agriculture remains particularly important, contain almost one quarter of the population of OECD countries. The past quarter century has witnessed signi?cant changes in agricultural po- cies in OECD countries. Although total support remains high, a shift has taken place from price-linked measures to direct income support, most notably in the European Union. Policies have been adapted to meet pressing social concerns, such as ens- ing food security and improving environmental quality. OECD countries face major economic issues due to the ageing of their populations and the need to adapt to gl- alization and increasing competition from emerging economies. Continued pressure to reform agricultural policies will be exerted by the need to economize on the use of scarce public resources. At the same time, agriculture faces new challenges g- erated by climate change, the “greening” of the economy, increasing scarcity of energy and water, and the demands placed on the food system by an expanding world population. The book is organized around five themes: (1) New Directions in Agricultural Policy: U.S. and EU Perspectives; (2) Agricultural Policy and Economic performance; (3) Energy and Agricultural Policy; (4) International Trade and Agricultural Policy; and (5) Commodity Programs and Risk Management. The authors apply rigorous tools to analyze the impact and implications of current agricultural policies on efficiency, productivity, and competitiveness in the sector, and consider opportunities for improvement in policymaking and practice. --Résumé de l'éditeur