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| Registros recuperados: 31 | |
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| Lai, Jing-Yi; Myers, Robert J.; Hanson, Steven D.. |
| Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions. In this study, we solve the optimal on-farm storage problem for a risk-averse farmer under more general assumptions about underlying price distributions. The resulting model is applied to Michigan corn farmers and findings show, contrary to the "sell all or nothing" risk-neutral rule, risk-averse farmers will spread sales out over the storage season. As farmers become more risk averse, the optimal strategy is to sell more grain at harvest and spread sales over the storage season, even though this practice reduces expected return. This result is more consistent with observed... |
| Tipo: Journal Article |
Palavras-chave: Grain storage; Risk aversion; Stochastic dynamic programming; Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/31063 |
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| Mason, Nicole M.; Myers, Robert J.. |
| More than two decades after the initiation of agricultural market reforms in eastern and southern Africa (ESA), governments in the region are increasingly using parastatal grain marketing boards (GMBs) and/or strategic grain reserves (SGRs) to directly influence the prices faced by farmers and consumers (Jayne, Chapoto, and Govereh 2007). In Zambia, the government through the Food Reserve Agency, an SGR/GMB, purchased nearly 400,000 MT of maize from smallholders in 2006/07 and 2007/08, or more than 50% of the maize marketed by this group. |
| Tipo: Technical Report |
Palavras-chave: Zambia; Smallholder; Food Security; Agricultural and Food Policy; Food Security and Poverty. |
| Ano: 2011 |
URL: http://purl.umn.edu/120764 |
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| Robison, Lindon J.; Myers, Robert J.; Siles, Marcelo E.. |
| Social capital, a person or group's sympathy or sense of obligation for another person or group, assumes relationships can alter the terms of trade and the likelihood of trades between individuals. Other important economic consequences of social capital result from its ability to internalize externalities. This paper introduces social capital into the neoclassical model to derive forecasts of how relationships will alter the minimum-sell prices of farmland and the likelihood of trades between persons with different relationships. Also deduced in this paper is the effect of social capital on the level and dispersion of benefits from trade. Empirical evidence from a 1,500 farmland owner-operator survey is analyzed and provides support for the social... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Institutional and Behavioral Economics; International Relations/Trade. |
| Ano: 1999 |
URL: http://purl.umn.edu/11546 |
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| Hanson, Steven D.; Myers, Robert J.; Hilker, James H.. |
| Many agricultural producers face cash price distributions that are effectively truncated at a lower limit through participation in farm programs designed to support farm prices and incomes. For example, the 1996 Federal Agricultural Improvement Act (FAIR) makes many producers eligible to obtain marketing loans which truncate their cash price realization at the loan rate, while allowing market prices to freely equilibrate supply and demand. This paper studies the effects of truncated cash price distributions on the optimal use of futures and options. The results show that truncation in the cash price distribution facing an individual producer provides incentives to trade options as well as futures. We derive optimal futures and options trading rules under... |
| Tipo: Journal Article |
Palavras-chave: Farm programs; Futures; Hedging; Options; Truncation; Marketing. |
| Ano: 1999 |
URL: http://purl.umn.edu/15152 |
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| Mason, Nicole M.; Jayne, Thomas S.; Myers, Robert J.. |
| More than two decades after the initiation of agricultural market reforms in eastern and southern Africa (ESA), governments in the region are increasingly using parastatal grain marketing boards (GMBs) and/or strategic grain reserves (SGRs) to directly influence the prices faced by farmers and consumers. In Zambia, for example, the government through the Food Reserve Agency, a SGR/GMB, purchased nearly 400,000 metric tons (MT) of maize from smallholders in 2006/07 and 2007/08, or more than 50% of the maize marketed by this group. This marked a sharp increase in the level of FRA purchases: between its establishment in 1996 and the 2005/06 marketing year, FRA’s annual maize purchases only once exceeded 100,000 MT. Then in 2010/11, the FRA purchased more than... |
| Tipo: Working Paper |
Palavras-chave: Zambia; Food Security Smallholder; Agricultural and Food Policy; Food Security and Poverty. |
| Ano: 2011 |
URL: http://purl.umn.edu/120768 |
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| Myers, Robert J.; Piggott, Roley R.; Tomek, William G.. |
| Vector autoregression (VAR) methods are used to analyse the contribution of supply, demand and policy shocks to unpredictable fluctuations in the market for Australian wool. VAR procedures are compared with conventional structural econometric models as methods for decomposing sources of instability. While each has advantages and disadvantages, VAR procedures might be viewed as preferable when the underlying market structure is complex and uncertain, as it is in the case of wool. Based on the results obtained, demand shocks are the dominant source of uncertainty in the wool market in the absence of Australian Wool Corporation intervention, but intervention has blunted their effects, reducing market uncertainty and increasing the average level of prices and... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1990 |
URL: http://purl.umn.edu/22357 |
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| Haydu, John J.; Myers, Robert J.; Thompson, Stanley R.. |
| This study investigated farmers' incentives to forward purchase inputs. A model of farmer decision making was used to derive an optimal forward contracting rule. Explicit in the model was the tradeoff between the quantity of input to be purchased in advance, and the remaining portion to be purchased later on the spot market. Results indicated that the primary reasons farmers contract inputs are to reduce risk and to speculate on favorable price moves. A numerical example of fertilizer used in corn production indicated that the size of the price discount was the dominant factor in forward contracting decisions. |
| Tipo: Journal Article |
Palavras-chave: Farm Management. |
| Ano: 1992 |
URL: http://purl.umn.edu/30369 |
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| Mason, Nicole M.; Chapoto, Antony; Jayne, Thomas S.; Myers, Robert J.. |
| Since the southern African food crisis of 2001/02, the ‘new-variant famine’ (NVF) hypothesis first proposed by de Waal and Whiteside (2003) has become an important part of the conventional wisdom surrounding the relationship between HIV/AIDS and food crises in the region. The NVF hypothesis suggests that HIV/AIDS is eroding agrarian livelihoods and exacerbating the effects of drought and other shocks on agrarian communities. These concepts have begun to shape the HIV/AIDS mitigation and food security policies and programs of governments and development agencies. To date, however, there is a dearth of empirical evidence to support the NVF hypothesis, and there have been no studies specifically designed to tests its predictions. |
| Tipo: Report |
Palavras-chave: Food security; Policy; Zambia; Africa; HIV/AIDS; Crop Production/Industries; Health Economics and Policy; Q18. |
| Ano: 2007 |
URL: http://purl.umn.edu/54489 |
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| Negassa, Asfaw; Myers, Robert J.; Gabre-Madhin, Eleni Z.. |
| This paper discusses a modeling approach that extends and improves the standard parity bounds model (PBM) of spatial market efficiency by analyzing the dynamic effects of marketing policy changes. The model facilitates an improved understanding of the patterns of adjustment in grain marketing efficiency in response to policy changes in two main ways. First, it identifies whether there are statistically significant structural changes in trading regime probabilities as a result of a given marketing policy change. Second, it determines the time path of the response of spatial grain market efficiency to marketing policy changes, thus addressing the issue of how long will it take before the full effect of marketing policy change is realized on spatial grain... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Marketing. |
| Ano: 2003 |
URL: http://purl.umn.edu/16132 |
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| Myers, Robert J.; Jayne, Thomas S.. |
| An alternative specification for the trend component of crop yield growth is developed and applied to maize yield data for Zimbabwe’s large‐scale farming sector. This accounts for permanent regime shifts as new technologies are discovered but allows gradual absorption as adoption follows a diffusion path. Econometric methods are used to estimate the timing and importance of innovations, as well as the length of the diffusion path. Results from an application to Zimbabwe commercial maize yields indicate two major regime shifts that can be associated with the introduction of hybrid seed varieties, and a diffusion path that extends over a decade. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1997 |
URL: http://purl.umn.edu/118043 |
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| Negassa, Asfaw; Myers, Robert J.; Gabre-Madhin, Eleni Z.. |
| In the context of on-going market reform in developing countries, there is a need for an improvement in the existing methods of spatial market efficiency analysis in order to better inform the debate toward designing and implementing new grain marketing policies, institutions, and infrastructure that facilitate the emergence of a well developed and competitive grain marketing system. The standard parity bounds model (PBM), while it overcomes many weaknesses of the conventional methods of spatial market efficiency analysis, it does not allow for the test of structural changes in spatial market efficiency as a result of policy changes. In this paper, building on the standard PBM, we develop an extended parity bounds model (EPBM). The EPBM is a stochastic... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 2003 |
URL: http://purl.umn.edu/16133 |
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| Nyambane, Gerald G.; Hanson, Steven D.; Myers, Robert J.; Black, J. Roy. |
| The vast majority of previous studies on farmers' optimal risk management behavior have used static models and on the most part ignored use of borrowing and lending as an alternative method of managing risk In this paper we develop a stylized multi-period risk management model for a risk averse farmer who can use revenue insurance to manage risk and also borrow and lend subject to a credit constraint. The model is applied to an example farm from Adair County in Iowa and the results provide three important messages. First, contrary to the full coverage of actuarially fair insurance result expected from using purely static analysis, at low revenues, insurance coverage may not be taken in the absence of debt. Second, if debt is available, full coverage will... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2002 |
URL: http://purl.umn.edu/19072 |
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| Mason, Nicole M.; Myers, Robert J.. |
| Over the last decade, governments in eastern and southern Africa have become increasingly involved in grain marketing via strategic reserves and marketing boards. Kenya, Malawi, Zimbabwe, Ethiopia, Tanzania, and Zambia all have one or both of these entities, and their level of involvement in grain marketing has generally increased in recent years. Yet, to date, relatively little is known about how the resurgent activities of strategic grain reserves and marketing boards are affecting market prices. This paper estimates the effects of the Zambia Food Reserve Agency’s (FRA) activities on maize market prices in the country. |
| Tipo: Working Paper |
Palavras-chave: Zambia; Food Security; Maize; Agricultural and Food Policy; Food Security and Poverty. |
| Ano: 2011 |
URL: http://purl.umn.edu/120771 |
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| Registros recuperados: 31 | |
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