The empirical distribution of the costs of revenue-based commodity support programs - estimates and policy implications.

摘要

This paper demonstrates how the density function of the U.S. domestic commodity support payments for maize differs between current price-based approaches to support and a revenue-based alternative. Comparing across programme scenarios that provide equal expected levels of support at the national level, the revenue-based scenario exhibits a lower variability around total expected annual payments, and perhaps more importantly, a lower probability of high payments than the current-style support. Furthermore, for the vast majority of corn-producing counties in the United States, the coefficient of variation of total gross revenue per acre is lower under the revenue-based support scenario than under the current-style scenario.