Policy Options for Agriculture
Economic Development, Innovation, Technological Change, and Growth
Public Economics
Agricultural and Natural Resource Economics
Many farmers currently face severe financial stress resulting in asset liquidations, problems in obtaining credit and even bankruptcy. An important issue in policy analysis
is the applicability of traditional farm policy approaches to the current situation. This is a particularly relevant issue because the 1983 Payment in Kind (PIK) program was one of the largest and most expensive government transfer programs for agriculture in recent history, and yet many farms are still facing severe financial problems.