The Conservation Reserve Program (CRP) pays farmers about $2 billion per year to retire cropland under ten- to fifteen-year contracts. Recent research by <xref ref-type="bibr" rid="R3">Wu (2000)</xref> found that slippage—an unintended stimulus of new plantings—offsets some of CRP's environmental benefits. In a comment on Wu, we...

The Conservation Reserve Program (CRP) pays farmers about $2 billion per year to retire cropland under ten- to fifteen-year contracts. Recent research by <link rid="b3">Wu (2000)</link> found that slippage-an unintended stimulus of new plantings-offsets some of CRP's environmental benefits. In a comment on Wu, we...

Water reallocation to meet mandated flow requirements and trust responsibilities, established in Federal law and water authority, can result in large uncompensated losses to irrigated agriculture. This paper discusses the nature and potential cost of water-supply interruptions due to Federal...

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...

Nearly all farm business ventures involve financial risk. In some instances, private and public tools used to manage financial risks in agriculture may influence farmers' production decisions. These decisions, in turn, can influence environmental quality. This bulletin summarizes research and...

We use administrative data from the Federal crop insurance program to examine how yield distributions change as farmers cycle into and out of the program. We are able to do this by linking many years of crop insurance data by individual farm conditioning observed yields on the particular county...

In a series of studies employing a variety of approaches, we have found that the potential impact of climate change on US agriculture is likely negative. Deschênes and Greenstone (2007) report dramatically different results based on regressions of agricultural profits and yields on weather...

We present a new framework to identify supply elasticities of storable commodities where past shocks are used as exogenous price shifters. In the agricultural context, past yield shocks change inventory levels and futures prices of agricultural commodities. We use our estimated elasticities to...