CHANGES IN SELECTED CHARACTERISTICS OF U.S. FARMS DURING THE 1970s AND EARLY 1980s: AN INVESTIGATION BASED ON CURRENT AND CONSTANT DOLLAR SALES CATEGORIES

Changes since 1970 in the distribution of selected farm characteristics among constant and current dollar farm sales categories were examined. In general, the same trends emerged but changes were less dramatic after adjusting for inflation. The increasing concentration of net farm income among farms with sales exceeding $500,000 was attributed in part to their continuing high ratio of gross farm income to expenses (approximately 145 percent). Farms with sales between$10,000 and $500,000 became more dependent on nonfarm income. This dependency is postulated to result from a farm income treadmill and use of nonfarm income to cope with the treadmill.Agribusiness,

DROUGHTS AND FARM POLICY

Agricultural and Food Policy,

The Revenue Program Option in the 2008 U.S. Farm Bill: Evaluating Performance Characteristics of the ACRE Program

Had only a farm program like the new ACRE state revenue program existed instead of the authorized 1996–2008 programs for corn, soybeans, and wheat, farm support expenditures would have occurred earlier but totaled less. In contrast, at the higher prices forecast for the three crops over the 2009–2012 crop years, spending per acre is expected to be higher for acres enrolled in the ACRE program than for acres enrolled in the traditional programs. These results reflect the different design features of the two programs: revenue versus price assistance and assistance levels that adjust with lagged market revenue versus fixed nominal support triggers. The design issues and policy questions raised for both domestic policy considerations and WTO compliance are discussed.farm policy, Food Conservation and Energy Act of 2008, Average Crop Revenue Election Program (ACRE), WTO domestic support commitments, Agricultural and Food Policy, International Relations/Trade,

Rural Credit Crisis A Status Report

Exact date of working paper unknown