Effects of Government Policy on Agriculture: An Empirical Analysis

R. McFall Lamm

No 329209, Economics Statistics and Cooperative Services (ESCS) Reports from United States Department of Agriculture, Economic Research Service

Abstract: Most empirical efforts to evaluate the effects of government policies on agriculture have considered policies applied to specific commodity sectors. The results have been the construction of a number of highly specialized sector models which ignore cross-sector policy effects. This paper presents the results of an attempt to construct an aggregate model of agriculture which considers jointly all major agricultural policies implemented over the last 3 decades. The results indicate that government intervention in agriculture generally reduced farm income and production below what it would have been; lead to lower food prices, benefitting consumers; and constrained capital for labor substitution. Government programs did lead to greater price stability, however, which was a basic objective of agricultural programs.

Keywords: Agricultural and Food Policy; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 126
Date: 1980-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerscs:329209

DOI: 10.22004/ag.econ.329209

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