Farm households' consumption of ad hoc program payments

David J. Williams, Brady E. Brewer and Jessica Todd

Applied Economic Perspectives and Policy, 2022, vol. 44, issue 3, 1465-1481

Abstract: The increasing size, scope, and cost of ad hoc programs underscore the importance of understanding their effects. This article examines how Market Facilitation Program payments affected farm household consumption expenditures. Payments received in 2018 from the Market Facilitation Program were consumed at statistically significant rates that are considerably larger than other income sources. Farm households may have prespent the second tranche of the 2018 program payments before they were received in 2019. The consumption behaviors of commercial, intermediate, and residence farm households are contrasted, and less consumption smoothing is noticed among more leveraged households.

Date: 2022
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https://doi.org/10.1002/aepp.13266

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Persistent link: https://EconPapers.repec.org/RePEc:wly:apecpp:v:44:y:2022:i:3:p:1465-1481

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