The Unintended Beneficiaries of Farm Subsidies
研究发现，美国2011-2017年每年60亿美元的脱钩农业补贴中，约45-65美分每美元被地主通过提高租金获取，削弱了对农民的政策效果。
From 2011 to 2017, the U.S. government paid farmers annually $6 billion in decoupled subsidies. Because around sixty percent of cropland is rented, if landlords raise rents in response to subsidy payments, the subsidies may not benefit the farmers as much as intended by policy. The Agricultural Act of 2014 linked subsidy payments to county characteristics and idiosyncratic yields. Instead of payments tied to farm-level productivity, which challenged identification under earlier programs, the programs offer a new path for identifying subsidy incidences. We find rents increase by approximately $0.45-0.65 for every dollar received, roughly double what prior research found