The importance of demand and supply elasticities in dairy policy analysis

Richard L. Kilmer and Xiling Wu
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Richard L. Kilmer: Food and Resource Economics Department, University of Florida, Postal: Food and Resource Economics Department, University of Florida
Xiling Wu: Food and Resource Economics Department, University of Florida, Postal: Food and Resource Economics Department, University of Florida

Agribusiness, 1988, vol. 4, issue 3, 217-231

Abstract: A quarterly model is used to determine the effect of alternative government programs evaluated over a range of elasticities on the total income of farmers, government expenditures, and the cost to plants of raw milk. A reduction in price supports reduces farmers' revenue by more than three times with price support when compared to quota and more than nine times with assessment when compared to quota. The higher the elasticities, the smaller the total revenue loss to dairy farmers and the smaller the total revenue difference among policies.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:4:y:1988:i:3:p:217-231

DOI: 10.1002/1520-6297(198805)4:3<217::AID-AGR2720040302>3.0.CO;2-A

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