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U.S. Agricultural Policy and Gasohol: A Policy Simulation

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Listed:
  • Ronald L. Meekhof
  • Wallace E. Tyner
  • Forrest D. Holland

Abstract

This research uses a stochastic simulation model to evaluate the implications of alternative gasohol programs for a large segment of the food and agricultural sector-corn and soybean producers, consumers, and taxpayers. The impacts on corn and soybean prices, production, acreage planted, carryover stocks, exports, and commodity program expenditures are presented. The research findings indicate that alcohol production levels below 2.0 billion gallons do not result in serious dislocations in the agricultural sector. As the level of alcohol production increases and more grain is required, corn prices rise significantly, stocks fall to extremely low levels, exports decline, and government expenditures increase greatly.

Suggested Citation

  • Ronald L. Meekhof & Wallace E. Tyner & Forrest D. Holland, 1980. "U.S. Agricultural Policy and Gasohol: A Policy Simulation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(3), pages 408-415.
    • Handle: RePEc:oup:ajagec:v:62:y:1980:i:3:p:408-415.
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    File URL: http://hdl.handle.net/10.2307/1240195
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    Cited by:

    1. Gauder, Martin & Graeff-Hönninger, S. & Claupein, W., 2011. "The impact of a growing bioethanol industry on food production in Brazil," Applied Energy, Elsevier, vol. 88(3), pages 672-679, March.
    2. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey & Schamel, Guenter & Brubaker, Heather, 2003. "Some long-run effects of growing markets and renewable fuel standards on additives markets and the US ethanol industry," ISU General Staff Papers 200309010700001445, Iowa State University, Department of Economics.
    3. Martin, Marshall A. & Edelman, Mark A., 1981. "Less U.S. Government Intervention in Corn and Soybean Markets: An Analysis of Program Alternatives," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279396, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Turhollow, Anthony F., Jr., 1982. "Large-scale alcohol production from corn, grain sorghum, and crop residues," ISU General Staff Papers 198201010800009390, Iowa State University, Department of Economics.
    5. Christensen, Douglas A., 1982. "Alcohol from corn: can our soil survive?," ISU General Staff Papers 198201010800008031, Iowa State University, Department of Economics.

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