期刊名称：Journal of Agricultural and Resource Economics
印刷版ISSN：1068-5502
出版年度：2016
卷号：41
期号：3
页码：499-517
出版社：WAEA
摘要：We develop a model with farm-level heterogeneity in productivity and endogenous entry and exitdecisions to analyze the effect of price supports and direct payments on the U.S. corn market.The analytical results show that, contrary to the existing literature, removal of direct paymentsaugments productivity while removal of price supports does not impact productivity, and directpayments can lead to larger production distortions than price supports under certain conditions.The simulation results corroborate the theoretical findings in that if both policies are equal inmagnitude, then direct payments result in larger price, output, and welfare distortions than pricesupports.
关键词：corn; coupled subsidies; decoupled payments; entry and exit; heterogeneity
