The End of the Federal Tobacco Program: Economic Impacts of the Deregulation of U.S. Tobacco Production

A. Blake Brown, Randal R. Rucker and Walter Thurman

Review of Agricultural Economics, 2007, vol. 29, issue 4, 635-655

Abstract: In 2004, Congress ended the sixty-six-year-old federal tobacco program, effectively deregulating production and prices. With deregulation came a buyout package, with cigarette manufacturers agreeing to pay more than $3 billion in present value to quota owners and farmers. While the dollar values of compensation payments are known, the effects of the historic legislation on tobacco markets are uncertain. We examine these effects and their welfare consequences. We also consider the appropriateness of the buyout payments under alternative views of economic damages due to the quota system's demise. Copyright 2007, Oxford University Press.

Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1111/j.1467-9353.2007.00378.x (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Journal Article: The End of the Federal Tobacco Program: Economic Impacts of the Deregulation of U.S. Tobacco Production (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:revage:v:29:y:2007:i:4:p:635-655

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

More articles in Review of Agricultural Economics from Agricultural and Applied Economics Association Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ( this e-mail address is bad, please contact ) and Christopher F. Baum ().