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Price versus Quota Reductions: U.S. Flue-Cured Tobacco Policy

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  • Blake Brown, A.
  • Martin, Laura L.

Abstract

Declining domestic cigarette consumption, increased global competition, and loss of import restrictions indicate decreased demand for U.S. flue-cured tobacco. The effects of 10% declines in domestic and export demand are evaluated under a policy of reducing quota to maintain price versus a policy of allowing price to fall to maintain quota. Changes in prices, quantities, revenues, and economic rents are simulated. Losses to nonfarming quota owners are minimized under a policy of price maintenance, while losses in revenues to tobacco-producing areas are minimized by a policy of quota maintenance. Aggregate losses to tobacco growers are greater under a policy of quota maintenance.

Suggested Citation

  • Blake Brown, A. & Martin, Laura L., 1996. "Price versus Quota Reductions: U.S. Flue-Cured Tobacco Policy," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 28(2), pages 445-452, December.
    • Handle: RePEc:cup:jagaec:v:28:y:1996:i:02:p:445-452_00
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    Cited by:

    1. Raper, Kellie Curry & Love, H. Alan, 1999. "MONOPSONY POWER IN MULTIPLE INPUT MARKETS: A Nonparametric Approach," Staff Paper Series 11656, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    2. Kellie Curry Raper & H. Alan Love & C. Richard Shumway, 2000. "Determining market power exertion between buyers and sellers," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(3), pages 225-252.
    3. Kelly Tiller & Shiferaw Feleke & Jane Starnes, 2013. "Federal excise tax increase and its effects on U.S. tobacco production," Empirical Economics, Springer, vol. 44(2), pages 701-717, April.
    4. Jan Hendrik Preißler-Jebe, Korbinian von Blanckenburg, Alexander Geist, "undated". "Comparing Cartel Behavior: A Simulation Analysis with the System of Cartel Markers (SCM)," Working Papers 201041, Institute of Spatial and Housing Economics, Munster Universitary.

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