NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Carlo Russo

Università degli Studi di Cassino
Facoltà di Economia
Via S. Angelo, loc. Folcara
Cassino 03043 (FR)
Italy

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org

NBER Working Papers and Publications

March 2011Modeling Processor Market Power and the Incidence of Agricultural Policy: A Nonparametric Approach
with Rachael E. Goodhue
in The Intended and Unintended Effects of U.S. Agricultural and Biotechnology Policies, Joshua S. Graff Zivin and Jeffrey M. Perloff, editors
January 2011Modeling Processor Market Power and the Incidence of Agricultural Policy: A Non-parametric Approach
with Rachael E. Goodhue: w16706
This paper examines interactions between market power and agricultural policy in the U.S. wheat flour milling industry using a non-parametric approach. The analysis focuses on marketing loan and pre-1986 deficiency payment programs; farmers' payments from these programs are dependent on whether or not the market price exceeds a "policy" price. It assesses if the payments trigger a change in the underlying economic behavior of the milling industry, and any resulting change in the flour-wheat price margin. The analysis compares the outcomes of using constrained and unconstrained sliced inverse regressions in order to identify the significant factors affecting millers' pricing behavior. In both cases, the link functions are then estimated using a non-parametric regression of prices on the...
 
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