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The Intended and Unintended Effects of U.S. Agricultural and Biotechnology Policies

Using economic models and empirical analysis, this volume examines a wide range of agricultural and biofuel policy issues and their effects on American agricultural and related agrarian insurance markets. Beginning with a look at the distribution of funds by insurance programs—created to support farmers but often benefiting crop processors instead—the book then examines the demand for biofuel and the effects of biofuel policies on agricultural price uncertainty. Also discussed are genetically engineered crops, which are assuming an increasingly important role in arbitrating tensions between energy production, environmental protection, and the global food supply. Other contributions discuss the major effects of genetic engineering on worldwide food markets. By addressing some of the most challenging topics at the intersection of agriculture and biotechnology, this volume informs crucial debates.

Table of Contents

An Overview of the Intended and Unintended Effects of U.S. Agricultural and Biotechnology Policies
Joshua S. Graff Zivin and Jeffrey M. Perloff

I. Agricultural Policy

1. The Buck Stops Where? The Distribution of Agricultural Subsidies
Barry K. Goodwin, Ashok K. Mishra, and François Ortalo-Magné

2. Modeling Processor Market Power and the Incidence of Agricultural Policy: A Non-parametric Approach
Rachael E. Goodhue and Carlo Russo

3. The Politics and Economics of the U.S. Crop Insurance Program
Bruce A. Babcock

4. Supply and Effects of Specialty Crop Insurance
Ethan Ligon

5. Risk Response in Agriculture
Jeffrey LaFrance, Rulon Pope, and Jesse Tack

II. Biofuels and Biotechnology

6. Commodity Price Volatility in the Biofuel Era: An Examination of the Linkage between Energy and Agricultural Markets
Thomas W. Hertel and Jayson Beckman

7. Meeting the Mandate for Biofuels: Implications for Land Use, Food and Fuel Prices
Xiaoguang Chen, Haixiao Huang, Madhu Khanna, and Hayri Önal

8. Land for Food and Fuel Production: The Role of Agricultural Biotechnology
Steven Sexton and David Zilberman

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