Chapter 12, a special section in the bankruptcy code enacted in 1986 in response to the farm financial crisis, will expire on October 1, 1998. It has succeeded in keeping some farmers in business and has encouraged informal lender-farmer settlements out of court. But it has increased costs by...

Potential accession of a number of eastern and central European countries into the European Union (EU) seems destined to lead to further reforms of the Common Agricultural Policy (CAP). The financial costs of absorbing these countries may be extreme. This report documents the modeling framework...

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...

Crop production is shifting to much larger farms. Since government commodity payments reflect production volumes for program commodities, payments are also shifting to larger farms. In turn, the operators of very large farms have substantially higher household incomes than other farm households,...

The Farm Security and Rural Investment Act of 2002 (2002 Farm Act), which governs agricultural programs through 2007, was signed into law in May 2002. This report presents an initial evaluation of the new legislation's effects on agricultural commodity markets, based on sectorwide model...

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...

The 1996 Farm Act gives farmers almost complete planting flexibility, allowing producers to respond to price changes to a greater extent than they had under previous legislation. This study measures supply responsiveness for major field crops to changes in their own prices and in prices for...

A multitude of design decisions influence the performance of voluntary conservation programs. This Economic Brief is one of a set of five exploring the implications of decisions policymakers and program managers must make about who is eligible to receive payments, how much can be received, for...

A multitude of design decisions influence the performance of voluntary conservation programs. This Economic Brief is one of a set of five exploring the implications of decisions policymakers and program managers must make about who is eligible to receive payments, how much can be received, for...