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- W496606712 abstract "Direct payments were a key fixture of US farm policy and America’s farm financial safety net from 1996 to 2013. Unlike prior price support programs, direct payments were considered “decoupled” because they were not tied to current production practices or current market prices. Instead, direct payments were determined by historical cropping patterns (called base acres). The program was originally introduced to ensure World Trade Organization (WTO) compliance, but the nature of the payments drew political scrutiny. The program was phased out through the 2014 Farm Bill (Agricultural Act of 2014). The prominence of the direct payments program coincided with one of the largest increases in U.S. agricultural land values, and as a result, many questioned the role direct payments played in the recent farm real estate price boom. A recent study, reviewed in this article, suggests that an additional dollar of direct payments is associated with an $18 per acre increase in cropland values." @default.
- W496606712 created "2016-06-24" @default.
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- W496606712 date "2015-05-22" @default.
- W496606712 modified "2023-09-25" @default.
- W496606712 title "The Influence of Direct Payments on US Cropland Values" @default.
- W496606712 cites W1537323216 @default.
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- W496606712 doi "https://doi.org/10.22004/ag.econ.283128" @default.
- W496606712 hasPublicationYear "2015" @default.
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