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Government policy cross effects: The cotton and dairy programs' influence on alfalfa hay markets
Author(s) -
Blank Steven C.,
Ayer Harry W.
Publication year - 1987
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/1520-6297(198724)3:4<385::aid-agr2720030404>3.0.co;2-h
Subject(s) - hay , agricultural economics , revenue , economics , alfalfa hay , econometric model , agribusiness , government (linguistics) , agricultural science , gross margin , agriculture , econometrics , agronomy , environmental science , production (economics) , geography , macroeconomics , biology , finance , linguistics , rumen , philosophy , food science , archaeology , fermentation
To illustrate the magnitude of government policy impacts on nonprogram products, estimates are presented of the 1986–1987 crop year effects of both the 1986 cotton and dairy programs on the Arizona alfalfa hay market. These policy “cross effects” are calculated from simulation results of a simple econometric model. The estimated impact of $8.91 per ton represents a nine percent reduction in gross unit revenues from hay.