IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v97y2015i5p1287-1297..html
   My bibliography  Save this article

The 2014 Farm Bill and the WTO

Author

Listed:
  • Joseph W. Glauber
  • Patrick Westhoff

Abstract

The 2014 farm bill reduced expected budgetary costs of US farm programs, according to estimates prepared by the Congressional Budget Office. Cost projections are very sensitive to market conditions and program participation assumptions, and stochastic analysis indicates that farm program costs could easily differ from expected values by $5 billion or more in any given year. By replacing direct payments with new policies that make payments tied to market prices and yields, the bill could have important World Trade Organization (WTO) implications. If the new policies are classified as non-commodity specific amber box support, projections indicate that existing WTO limits on the current Aggregate Measure of Support would not be exceeded on average, but could be under some market conditions. Furthermore, the new policies are very likely to exceed some WTO rules proposed by various parties in the Doha Round negotiations.

Suggested Citation

  • Joseph W. Glauber & Patrick Westhoff, 2015. "The 2014 Farm Bill and the WTO," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(5), pages 1287-1297.
    • Handle: RePEc:oup:ajagec:v:97:y:2015:i:5:p:1287-1297.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/ajae/aav023
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xiaofei Li & Zhiwei Shen & Ardian Harri & Keith H. Coble, 2020. "Comparing survey-based and programme-based yield data: implications for the U.S. Agricultural Risk Coverage-County programme," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(1), pages 184-202, January.
    2. Joseph W. Glauber, 2021. "US Trade Aid Payments and the WTO," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 586-603, June.
    3. -, 2015. "The Outlook for Agriculture and Rural Development in the Americas: A Perspective on Latin America and the Caribbean 2015-2016," Coediciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 39024 edited by Iica.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:97:y:2015:i:5:p:1287-1297.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.