[eng] Farm income stabilization: a central objective in US and EU agricultural policies - The main thesis of this paper is that overall support numbers tend to mask what is happening in US and EU support programs. American and European farmers are isolated from most income risk. PSE values are...

The central thesis developed in this paper is that snapshot views of the global measures of agricultural support mask what is really happening in U.S. and E.U. agricultural policies. We demonstrate that American and European farmers are effectively protected from market risk by these policies....