Aggregate and Farm‐Level Productivity Growth in Tobacco: Before and After the Quota Buyout
研究了2004年美国烟草配额买断政策对农场生产率的影响，发现配额取消和资源重新配置（包括农场进入与退出）解释了买断后大部分的生产率增长。
We examine the distortionary effects of agricultural policy on farm productivity by examining the response of U.S. tobacco farmers’ productivity to the quota buyout of 2004. We focus on the impact of distortionary policy, i.e., the tobacco quota, by decomposing aggregate productivity growth into the contribution of farm‐level productivity growth and the contribution of reallocation of resources among tobacco growers. We find that the aggregate productivity of Kentucky tobacco farms grew 44% between 2002 and 2007. The elimination of quota rental costs and reallocation of resources, including entry and exit, accounted for most of the post‐buyout productivity growth.