This paper analyzes the dynamic effects of the acreage restrictions and land diversion requirements that are characteristic of the farm subsidy programs in the United States. The subsidy payments a farmer receives are based upon historical base acreage, and it 1s sometimes optimal for a farmer...

The burgeoning literature on how the benefits from research may be negative for a given price support arbitrarily ignores the costs of price supports for a given level of research. Furthermore, the very existence of price supports is inconsistent with the normative criterion that governments...

This paper develops a political economy framework that determines the factors causing underinvestment in public research expenditures. Governments are unable to fully compensate for unequal income distribution effects of research because of either their inability to make credible commitments or...

This paper goes beyond orthodox considerations of direct payment e®ects on agricultural output, by highlighting the role of subsidies in a®ecting individual producers' ability to cover ¯xed costs, and in distorting the volume of aggregate production and net trade by implicitly discouraging...

On-and off-farm employment offamily farm members has been a permanent phenomenum in U.S. agriculture. In this paper, a family-farm model is extended to include both on-and off-farm labor supply decisions for farm-households in the U.S. com sector. A unique empirical measure of economic welfare...

This paper develops a general equilibrium framework to determine the optimal set of internalizing policies under multifunctionality and relates these policies to trade. When agriculture generates both amenity benefits and pollution, a welfare maximum can be achieved through a combination of a...

Sustainability standards for biofuel production calculated via life cycle accounting (LCA) require a certain reduction in greenhouse gas (GHG) emissions relative to gasoline. Recently it has been shown that LCA gives biased results and should be extended to incorporate indirect land use change...