Purdue Agricultural Economics Report

The Purdue Agricultural Economics Report (PAER) exists to serve and further the core mission of the department to engage with real world problems that are of value to stakeholders. The scholarship communicated in this publication will represent the department’s excellence in creative endeavor for new knowledge and its dissemination in the economics of agriculture and natural resources.

Recent Publication:

PAER-2021-03 – U.S. Climate Policy Revisited: Macroeconomic and Distributional Impacts of the Paris Agreement

March 4, 2021

With the U.S. re-entering the Paris Agreement on Climate, Purdue researchers, Maksym Chepeliev and Dominique van der Mensbrugghe, consider the economic consequences for the US economy. Their findings show economic costs can be moderated (and inequality reduced) under a cooperative approach to meeting carbon reduction targets.

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Articles:

U.S. Climate Policy Revisited: Macroeconomic and Distributional Impacts of the Paris Agreement
Publication Date: March 2021
Article ID: PAER-2021-1

Authors: Maksym Chepeliev, Research Economist; and Dominique van der Mensbrugghe, Director and Research Professor

Summary: With the U.S. re-entering the Paris Agreement on Climate, Purdue researchers consider the economic consequences for the US economy. Their findings show economic costs can be moderated (and inequality reduced) under a cooperative approach to meeting carbon reduction targets.
The General Economic Outlook
Publication Date: December 2020
Article ID: 2020-PAER-27

Author: Larry DeBoer, Professor of Agricultural Economics

Summary: We know the economy will recover in 2021. Everything else is uncertain. How fast will we get the pandemic under control? How fast will consumers regain their confidence? Will Congress pass another aid bill? Professor Larry DeBoer takes a leap into the unknown, with a general economic outlook.
Farmland Values and Cash Rent
Publication Date: December 2020
Article ID: PAER-2020-19

Author: Todd Kuethe, Associate Professor and Schrader Endowed Chair in Farmland Economics

Summary: There are number of signs of optimism for farmland prices in 2021, yet continued economic uncertainty remains. Cash rental rates are likely to see upward pressure despite recent low or negative returns on rented land.
Trade Policy Outlook: What should we expect from a Biden Administration?
Publication Date: December 2020
Article ID: PAER-2020-20

Author: Russell Hillberry, Professor of Agricultural Economics

Summary: U.S. international trade policy played a surprisingly small role in the presidential election campaign. What changes to trade policy should we expect from President-elect Biden?
2021 Agricultural Credit Outlook
Publication Date: December 2020
Article ID: PAER-2020-21

Authors: Brady Brewer, Assistant Professor and Todd H. Kuethe, Associate Professor and Schrader Endowed Chair in Farmland Economics

Summary: Low interest rates, low demand for loans, high repayment rates, and fund availability suggest agricultural credit markets well positioned for 2021.
An uncertain horizon for farm policy
Publication Date: December 2020
Article ID: PAER-2020-22

Authors: Roman Keeney, Associate Professor

Summary: Agriculture enters 2021 with uncertainty about not only the markets they will be supplying but the policy options that will comprise the safety net for farm incomes.
The Dairy Marketplace: Reflections on 2020 and factors to watch in 2021
Publication Date: December 2020
Article ID: PAER-2020-23

Author: Nicole Olynk-Widmar, Professor of Agricultural Economics

Summary: Dairy and milk markets started 2020 in a reasonably well balanced state. March 2020 began a significant period of turmoil instigated by COVID-19, which included unprecedentedly rapid supply chain adjustments and massive – sudden - shifts in consumption behavior.
Retail Food Price Outlook
Publication Date: December 2020
Article ID: PAER-2020-24

Author: Jayson L. Lusk, Department Head and Distinguished Professor of Agricultural Economics

Summary: Retail food markets have experienced extraordinary volatility in 2020, creating a great deal of uncertainty around food prices in 2021.
2021 Purdue Crop Cost and Return Guide
Publication Date: December 2020
Article ID: PAER-2020-25

Authors: Michael Langemeier, Professor of Agricultural Economics and Craig Dobbins, Professor of Agricultural Economics

Summary: Expect tight margins for 2021. Dr. Langemeier and Dobbins emphasize the importance of carefully scrutinizing input and crop decisions. Producers encouraged to create crop budgets and, in general, improve their record keeping.
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The Purdue Agricultural Economics Report is a quarterly publication written by faculty and staff from the Department Agricultural Economics at Purdue University.

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