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Welfare Comparisons of U.S. Dairy Policies with and without Mandatory Supply Control

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  • Harry M. Kaiser
  • Deborah H. Streeter
  • Donald J. Liu

Abstract

The existence of costly dairy surpluses has led some policy makers to argue in favor of mandatory supply controls as an alternative to existing dairy policy. A dynamic econometric model is used to simulate the changes in equilibrium prices, quantities, producer and consumer welfare, and government costs that would occur if mandatory controls were adopted. The results show that while such a change in policy would eliminate the costs associated with current price supports, the benefits accruing to producers would be achieved at the expense of consumers and processors.

Suggested Citation

  • Harry M. Kaiser & Deborah H. Streeter & Donald J. Liu, 1988. "Welfare Comparisons of U.S. Dairy Policies with and without Mandatory Supply Control," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(4), pages 848-858.
    • Handle: RePEc:oup:ajagec:v:70:y:1988:i:4:p:848-858.
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    File URL: http://hdl.handle.net/10.2307/1241926
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    Cited by:

    1. D’Antoni, Jeremy M. & Mishra, Ashok K. & Blayney, Donald, 2013. "Assessing participation in the Milk Income Loss Contract program and its impact on milk production," Journal of Policy Modeling, Elsevier, vol. 35(2), pages 243-254.
    2. Graham, John D. & Stennes, Brad & MacGregor, Robert J. & Meilke, Karl & Moschini, Giancarlo, 1990. "The Effects of Trade Liberalization on the Canadian Dairy and Poultry Sectors," Working Papers 244045, Agriculture and Agri-Food Canada.
    3. Blayney, Don P. & Fallert, Richard F., 1990. "Biotechnology and Agriculture: Emergence of Bovine Somatotropin (bST)," Staff Reports 278330, United States Department of Agriculture, Economic Research Service.

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