| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Risk-Reducing Effectiveness of Revenue versus Yield Insurance in the Presence of Government Payments
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| Autores: |
Vedenov, Dmitry V.
Power, Gabriel J.
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| Data: |
2009-01-22
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| Ano: |
2008
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| Palavras-chave: |
Copulas
Crop insurance
Farm bill
Government payments
Agribusiness
Agricultural and Food Policy
Crop Production/Industries
Q14
Q18
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| Resumo: |
Government farm support programs such as Loan Deficiency Payments (LDP) and Counter-Cyclical Payments (CCP) have payoff structures that effectively make them costless price insurance instruments. A combination of these payments with yield insurance may provide a viable alternative to revenue insurance. This paper finds that, contrary to expectations, the revenue product analyzed is uniformly superior to yield insurance under both current (2002) and proposed (2008) Farm Bill structures of government payments. Given minor adjustments, however, yield insurance combined with government payments can provide more effective risk management than revenue insurance in production areas with low yield–price correlation.
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| Tipo: |
Journal Article
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/46982
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| Relação: |
Journal of Agricultural and Applied Economics>Volume 40, Number 02, August 2008
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| Formato: |
17
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