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Registros recuperados: 20 | |
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Zhu, Ying; Goodwin, Barry K.; Ghosh, Sujit K.. |
The objective of this study is to evaluate and model the yield risk associated with major agricultural commodities in the U.S. We are particularly concerned with the nonstationary nature of the yield distribution, which primarily arises because of technological progress and changing environmental conditions. Precise risk assessment depends on the accuracy of modeling this distribution. This problem becomes more challenging as the yield distribution changes over time, a condition that holds for nearly all major crops. A common approach to this problem is based on a two-stage method in which the yield is first detrended and then the estimated residuals are treated as observed data and modeled using various parametric or nonparametric methods. We propose an... |
Tipo: Working or Discussion Paper |
Palavras-chave: Crop Insurance; Model Comparison; Time-Varying Distribution; Financial Economics. |
Ano: 2011 |
URL: http://purl.umn.edu/102048 |
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Sporri, Martina; Baráth, Lajos; Bokusheva, Raushan; Ferto, Imre. |
Crop insurance products can improve and stabilize economic performance. However, due to insurance market imperfections, the use of insurance products often requires governmental support. This paper analyses the actual impact of insurance products on the economic performance of cropping farms by linking the economic performance model with the insurance demand model. For this analysis, a simultaneous equation system is solved. Our estimations show a negative impact of insurance on the economic performance indicators farm profit, labour productivity and land productivity. The analysis of the insurance demand side confirms financial limitations of many farms. |
Tipo: Presentation |
Palavras-chave: Hungary; Crop Insurance; 2SCML; Impact evaluation; Risk and Uncertainty; Q12; Q14; G22. |
Ano: 2012 |
URL: http://purl.umn.edu/122525 |
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Roberts, Michael J.; Tack, Jesse B.. |
Farm income is highly variable due to annual price and yield uncertainties. The federally subsidized crop insurance program is an important tool for managing this risk, and has grown from a relatively modest program to one that encompasses the majority of productive cropland in the country. The success of this program depends on identification of actuarially fair insurance premium rates, which in turn depends on accurate estimation of farm-level yield distributions. We use the confidential U.S. Department of Agriculture Risk Management Agency (RMA) panel dataset to estimate farm-specific distributions of yields and actually fair crop insurance premiums. Our ongoing work includes using the difference between our estimated actually fair premiums and RMA's to... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Yield; Crop Insurance; Policy; Mixed Model; Agricultural and Food Policy. |
Ano: 2011 |
URL: http://purl.umn.edu/103405 |
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Zhu, Ying; Ghosh, Sujit K.; Goodwin, Barry K.. |
The objective of this study is to evaluate and model the risks of corn and soybean production. This study focuses on the risk of revenue variability that arises from changes in prices, yields shortfalls or both. There are several models for price and yield risk factors for corn and soybeans. For instance, yield risks can be modeled by a family of Beta distributions, whereas price shocks can be modeled by log-normal distributions. In order to develop a multivariate model that preserves a given set of marginals, a copula approach can be used to characterize the joint yield and price risk of corn and soybeans, which are usually highly correlated. The copula approach has been spurred by the recent developments in the whole farm insurance (WFI), resulting in... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Copula; Crop Insurance; Loss Distribution; Farm Management. |
Ano: 2008 |
URL: http://purl.umn.edu/6282 |
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Ramaswami, Bharat; Roe, Terry L.. |
Earlier analyses of area yield crop insurance schemes used a reduced form linear relationship between individual and area yield. However, without knowledge of the structural framework, the analysis and design of alternative schemes is problematic. This paper resolves this problem. The paper characterizes the entire class of structural models equivalent to the reduced form. As a result, the beta, the slope coefficient of the reduced form is expressed as a function of structural parameters. Second, the structural model is used to analyze the relation between the aggregation (that determines area yields) and the risk reduction due to area yield insurance. Third, we consider optimal area yield insurance for an important class of structural models not... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Area Yield; Beta; Crop Insurance; Systemic Risks; Risk and Uncertainty; G22; Q14. |
Ano: 2001 |
URL: http://purl.umn.edu/20638 |
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Registros recuperados: 20 | |
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