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A Welfare Analysis of the Voluntary Corn Diversion Program, 1961 to 1966

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  • Leroy J. Hushak

Abstract

The welfare effects of the com diversion program are analyzed. A three-sector (corn, other crops, and the rest of the economy) supply-demand model is developed which incorporates substitution in production and consumption between com and other crops. Using observed data as the restricted market equilibrium and parameters derived from previous research, free market equilibrium is estimated. The net welfare costs and income transfers are computed from the two equilibrium points. In general, the net welfare costs are small and the income transfers are substantial. However, the model is quite sensitive to the parameter values.

Suggested Citation

  • Leroy J. Hushak, 1971. "A Welfare Analysis of the Voluntary Corn Diversion Program, 1961 to 1966," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(2), pages 173-181.
    • Handle: RePEc:oup:ajagec:v:53:y:1971:i:2:p:173-181.
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    File URL: http://hdl.handle.net/10.2307/1237429
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    Cited by:

    1. Bullock, David S. & Salhofer, Klaus, 2003. "Judging agricultural policies: a survey," Agricultural Economics, Blackwell, vol. 28(3), pages 225-243, May.
    2. Miller, Gay & Rosenblatt, Joseph & Hushak, Leroy, 1987. "The Effects Of Supply Shifts On Producers Surplus," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 270116, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Sumner, Daniel A & Antle, John M & Gardner, Bruce L, 2004. "Contributions of D. Gale Johnson to the Economics of Agriculture," Economic Development and Cultural Change, University of Chicago Press, vol. 52(3), pages 659-679, April.
    4. Taylor, C. Robert & Lacewell, Ronald D., 1977. "Boll Weevil Control Strategies: Regional Benefits And Costs," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 9(1), pages 1-7, July.

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