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Registros recuperados: 115
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ESTIMATING EFFICIENCY MEASURES IN NORTH DAKOTA FARMS AgEcon
Mulik, Kranti; Taylor, Richard D.; Koo, Won W..
A normalized Quadratic Cost function is estimated using data from 1998-2003 to analyze the cost structure of North Dakota farms. Results indicate that there is overall evidence of increasing returns to scale. However, we do not find differences in efficiency across the different farm sizes. Marginal costs scale economies do not differ significantly across the different size categories, indicating that small and medium farms are just as efficient as the larger farms.
Tipo: Working or Discussion Paper Palavras-chave: Normalized quadratic cost function; Economies of scale; Productivity Analysis.
Ano: 2005 URL: http://purl.umn.edu/23489
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Assessment of North Dakota's State and Local Tax Burden AgEcon
Leitch, Jay A.; Taylor, Richard D.; Hovde, Brett.
Tipo: Technical Report Palavras-chave: Financial Economics; Public Economics.
Ano: 1994 URL: http://purl.umn.edu/121077
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2002 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS, 2002-2011 AgEcon
Koo, Won W.; Taylor, Richard D.; Swenson, Andrew L..
Net farm income for most representative farms in 2011 will be lower than in 2002. Low profit farms, which consist of 25% of the farms in the study, may not have financial resiliency to survive. The new farm bill will provide higher net farm income than a continuation of the FAIR Act. Cropland prices and cash rental rates are projected to increase slightly in all regions. Debt-to-asset ratios for most farms will increase slightly throughout the forecast period. Debt-to-asset ratios for the low-profit and small-size farms are higher than those for large and high-profit farms.
Tipo: Working or Discussion Paper Palavras-chave: Net farm income; Debt-to-asset ratios; Cropland prices; Land rental rates; Farm operating expenses; Capitalization rate; Farm Management.
Ano: 2002 URL: http://purl.umn.edu/23506
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2007 North Dakota Agricultural Outlook: Representative Farms, 2007-2016 AgEcon
Taylor, Richard D.; Koo, Won W.; Swenson, Andrew L..
Net farm income for nearly all representative farms in 2016 is projected to be higher than in 2006. Low-profit farms, which comprise 20% of the farms in the study, may not have financial resiliency to survive without off-farm income. Commodity prices and yields are projected to increase slightly faster than costs, which will increase net farm income. Cropland prices and cash rental rates are projected to increase slightly in all regions. Debt-to-asset ratios for all farms will decrease slightly throughout the forecast period. Debt-to-asset ratios for the low-profit farms are expected to remain near the 0.50 level.
Tipo: Report Palavras-chave: Net farm income; Debt-to-asset ratios; Cropland prices; Land rental rates; Farm operating expenses; Capitalization rate; Risk; Agribusiness; Farm Management; Land Economics/Use.
Ano: 2007 URL: http://purl.umn.edu/7641
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Changes in Agricultural Input Costs and Their Impact on Net Farm Income AgEcon
Taylor, Richard D.; Koo, Won W..
The recent rapid increase in commodity prices is not an unique event. It has happened several times in the past. Commodity prices have always dropped, returning to a more normal level. Production costs, on the other hand, follow commodity prices up but do not follow them down. Net farm income has increased rapidly in most commodity sectors of agriculture. However, production costs have increased substantially during the past few years. Those cost increases will reduce net farm incomes in the future if commodity prices do not continue to increase.
Tipo: Report Palavras-chave: Net farm income; Production costs; Gross income; Agribusiness; Agricultural Finance.
Ano: 2008 URL: http://purl.umn.edu/46888
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2011 Outlook of the U.S. and World Wheat Industries, 2010-2020 AgEcon
Taylor, Richard D.; Koo, Won W..
This report evaluates the U.S. and world wheat markets for the 2010-2020 time period using the Global Wheat Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. Both the U.S. and world wheat economies are predicted to remain relatively healthy for the next ten years. World demand for both common and durum wheat are expected to remain strong. The price levels in 2010 and early 2011 will not be maintained because they are the result of a small wheat crop in the Former Soviet Union (FSU). It is expected that wheat production in the FSU will return to normal in the future. World trade volumes of both classes of wheat are expected to...
Tipo: Report Palavras-chave: Common wheat; Durum wheat; Production; Exports; Consumption; Ending stocks; Crop Production/Industries; Production Economics.
Ano: 2011 URL: http://purl.umn.edu/115558
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2008 North Dakota Agricultural Outlook: Representative Farms, 2008-2017 AgEcon
Taylor, Richard D.; Koo, Won W.; Swenson, Andrew L..
Net farm income for nearly all representative farms in 2017 is projected to be lower than in 2007. Low profit farms, which comprise 20% of the farms in the study, may not have financial resiliency to survive without off-farm income. Commodity prices are expected to fall from current levels, however, the final level is unknown. Two price level scenarios were analyzed. Commodity yields are projected to increase at historical trend-line rates and production expenses are expected to return to normal growth rates after 2009. Debt-to-asset ratios for all farms will decrease slightly throughout the forecast period. Debt-to-asset ratios for the low profit farms are expected to remain near the 0.50 level.
Tipo: Report Palavras-chave: Net farm income; Debt-to-asset ratios; Cropland prices; Land rental rates; Farm operating expenses; Capitalization rate; Risk.; Agribusiness.
Ano: 2008 URL: http://purl.umn.edu/42500
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2003 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS, 2003-2012 AgEcon
Taylor, Richard D.; Koo, Won W.; Swenson, Andrew L..
Net farm income for all representative farms in 2012 will be lower than in 2003. Low profit farms, which comprise of 25% of the farms in the study, may not have financial resiliency to survive. Costs are projected to increase faster than yields. The new farm bill removes much of the price risk that producers face while placing it on the federal government. Cropland prices and cash rental rates are projected to increase slightly in all regions. Debt-to-asset ratios for most farms will increase slightly throughout the forecast period. Debt-to-asset ratios for the low-profit and small-size farms are higher than those for large and high-profit farms.
Tipo: Working or Discussion Paper Palavras-chave: Farm Management.
Ano: 2003 URL: http://purl.umn.edu/23521
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OPERATIONAL EFFICIENCY OF A U.S./CANADIAN WHEAT POOL: A GAME THEORY ANALYSIS AgEcon
Nganje, William E.; Koo, Won W.; Park, Joon J.; Taylor, Richard D..
The problem of declining wheat prices and excess supply has been the subject of recent economic studies partly because it coincides with the Federal Agriculture Improvement and Reform (FAIR) Act of 1996, and partly because efforts to decrease supply domestically have led to increased imports from Canada. This paper develops a game theory optimization model of market efficiency and derives conditions under which voluntary pooling is sustained for U.S./Canadian durum and hard red spring wheat producers. Analysis reveals that U.S. and Canadian farmers can increase farm returns with efficiency gains from pooling and by internalizing benefits from grain blending and logistics. The model is used to analyze diverse factors affecting the sustainability of such...
Tipo: Working or Discussion Paper Palavras-chave: Voluntary pooling; Game theory; Efficiency gains; Durum and HRS wheat marketing; Crop Production/Industries; Marketing.
Ano: 2001 URL: http://purl.umn.edu/23661
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2010 Outlook of the U.S. and World Wheat Industries, 2009-2019 AgEcon
Taylor, Richard D.; Koo, Won W..
This report evaluates the U.S. and world wheat markets for the 2009-2019 time period using the Global Wheat Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. Both the U.S. and world wheat economies are predicted to remain relatively healthy for the next ten years. World demand for both common and durum wheat are expected to remain strong. The price levels in 2007, 2008 and 2009 might not be maintained in 2010 and the future because increased wheat and corn production in 2008 and 2009 and reduced demand for corn for ethanol production which pressures all commodity prices. World trade volumes of both classes of wheat are expected...
Tipo: Report Palavras-chave: Common wheat; Durum wheat; Production; Exports; Consumption; Ending stocks; Agribusiness.
Ano: 2010 URL: http://purl.umn.edu/91843
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ANALYSIS OF THE 2002 FARM BILL AND NEW FARM BILL ALTERNATIVES AgEcon
Taylor, Richard D.; Koo, Won W..
This report evaluates the 2002 farm bill and the effects of the individual programs within the bill on North Dakota net farm income. A stochastic simulation model was developed, using @Risk by Palisade. @Risk replaces the mean values for price and yield with a distribution of values for the eight major commodities grown in North Dakota. The counter-cyclical (target price) program, marketing loan program, and federal crop insurance benefits were separated and analyzed to determine which components were the most important to North Dakota producers. The U.S. Trade Representative offered to decrease the country's trade distorting subsidies by 60% if the European Union would lower its export subsidies 75%. The study estimates the impact of that plan....
Tipo: Working or Discussion Paper Palavras-chave: Net farm income; Risk; Farm bill; North Dakota; Forecast; Domestic subsidies; Agricultural and Food Policy.
Ano: 2006 URL: http://purl.umn.edu/23524
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POTENTIAL IMPACTS OF GM WHEAT ON UNITED STATES AND NORTHERN PLAINS WHEAT TRADE AgEcon
Taylor, Richard D.; DeVuyst, Eric A.; Koo, Won W..
The potential introduction of genetically modified (GM) wheat has both supporters and opponents waging battle in the popular press and scholarly research. Supporters highlight the benefits to producers, while the opponents highlight the unknown safety factors for consumers. The topic is very important to the United States, as a large portion of the wheat production is exported overseas. Consumer groups in some countries are resisting GM wheat. This study utilizes a spatial equilibrium model to evaluate the trade impacts associated with GM wheat introduction along with several assumed post-GM adoption scenarios. Wheat is converted into protein equivalents to allow for substitution between wheat classes. The importance of the U.S....
Tipo: Working or Discussion Paper Palavras-chave: Genetically modified wheat; Spatial equilibrium model; Trade flows; Protein equivalents; Externalities; Crop Production/Industries; International Relations/Trade.
Ano: 2003 URL: http://purl.umn.edu/23546
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EFFECTS OF THE CANADIAN WHEAT BOARD ON THE U.S. WHEAT INDUSTRY AgEcon
Koo, Won W.; Jin, Hyun Joung; Mattson, Jeremy W.; Taylor, Richard D.; Cho, Guedae.
The practices of the Canadian Wheat Board (CWB) are an important issue in U.S. - Canada trade disputes and WTO negotiations. This study analyzes the CWB?s effect on U.S. producers by reviewing findings from previous research and developing models to analyze CWB wheat exports to the United States and the competitive structure of Canadian wheat exports in the world market. U.S. grain producers could benefit from the removal of the CWB as the United States could become more competitive in export markets. However, elimination of the CWB could also result in an increase in Canadian wheat exports to the United States as Canadian producers near the border could sell directly to the United States to take advantage of market opportunities. The net effect is...
Tipo: Working or Discussion Paper Palavras-chave: Canadian Wheat Board; State trading enterprises; Price discrimination; Wheat exports; Crop Production/Industries; International Relations/Trade.
Ano: 2004 URL: http://purl.umn.edu/23530
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ECONOMIC ANALYSIS OF ALTERNATIVE FARM BILL PROPOSALS AgEcon
Taylor, Richard D.; Koo, Won W..
Various farm organizations and political parties are taking sides on whether the FAIR Act needs to be scraped or just modified. This study analyzes three such proposals: the U.S. House of Representatives proposal (H.R. 2646), the American Farm Bureau proposal, and the National Farmers Union proposal. The continuation of the FAIR Act is also included as an another alternative. The H.R. 2646 and the American Farm Bureau proposals are modifications of the FAIR Act while the National Farmers Union proposal is a totally redesigned bill. The H.R. 2646 and the Farm Bureau proposals are very similar in their results. They provide higher net farm income for the large size farm than the Farmers Union proposal does early in the forecast period, but the Farmers Union...
Tipo: Working or Discussion Paper Palavras-chave: Farm Bill; Targeting; North Dakota Representative Farms; H.R. 2646; National Farmers Union; American Farm Bureau; Agricultural and Food Policy.
Ano: 2001 URL: http://purl.umn.edu/23496
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2005 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS, 2005-2014 AgEcon
Swenson, Andrew L.; Koo, Won W.; Taylor, Richard D..
Net farm income for all representative farms in 2014 is projected to be lower than in 2004. Low-profit farms, which comprise 25% of the farms in the study, may not have financial resiliency to survive without off-farm income. Costs are projected to increase faster than yields, which will pressure net farm income downward. Cropland prices and cash rental rates are projected to increase slightly in all regions. Debt-to-asset ratios for most farms will decrease slightly throughout the forecast period. Debt-to-asset ratios for the low-profit and small-size farms are higher than those for large and high-profit farms.
Tipo: Working or Discussion Paper Palavras-chave: Net farm income; Debt-to-asset ratios; Cropland prices; Land rental rates; Farm operating expenses; Capitalization rate; Farm Management.
Ano: 2005 URL: http://purl.umn.edu/23527
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Impact on the SURE Program on North Dakota Farms AgEcon
Taylor, Richard D.; Koo, Won W..
Agricultural producer groups have stressed for years the need for a disaster title in the farm bill. In the 2008 Farm Bill, the Supplemental Revenue Assistance Program (SURE) was included to address that need. Previously, producers had to convince Washington to fund ad hoc and emergency disaster declarations in times of low crop returns. This study reviews the SURE program and estimates the effectiveness of the program for North Dakota farmers. The SURE program replaces disaster funding; however it also probably prevents additional assistance under extra ordinary conditions.
Tipo: Report Palavras-chave: SURE; Supplemental Revenue Assistance Program; 2008 Farm Bill; Net farm income; North Dakota Representative Farm Model; Disaster funding; Agricultural Finance; Farm Management; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/46892
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1998 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS 1997-2007 AgEcon
Koo, Won W.; Taylor, Richard D.; Duncan, Marvin R..
Net farm income for all representative farms except small size and low profit farms in 2007 will be higher than in 1998. Net farm income for small and low profit farms will remain the same and decrease, respectively, for the forecasting period. Cropland prices are projected to fall in all regions of North Dakota after having peaked in 1997. Cash rental rates are projected to follow cropland prices. Debt-to-asset ratios for most farms fall across the forecast period. Debt-to-asset ratios for the low profit and small size farms are higher than those for large and high profit farms.
Tipo: Working or Discussion Paper Palavras-chave: Net farm income; Debt-to-asset ratios; Cropland prices; Land rental rates; Farm operating expenses; Capitalization rate; Production Economics.
Ano: 1998 URL: http://purl.umn.edu/23265
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IMPACTS OF THE U.S.-CENTRAL AMERICA FREE TRADE AGREEMENT ON THE U.S. SUGAR INDUSTRY AgEcon
Koo, Won W.; Taylor, Richard D.; Mattson, Jeremy W..
- The U.S.- Central American Free Trade Agreement (CAFTA) is a free trade agreement with five Central American Countries: Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. - Because of differences in resource endowments, size, and income between the United States and the Central American countries, trade between the two regions has generally been complementary, inter-industry trade. The United States exports wheat, corn, soybeans, and rice, and imports coffee, bananas, and fruits and vegetables. CAFTA will enhance the U.S. trade volume with Central America through trade creation and diversion effects. - One of the largest exports by the Central American countries is sugar. The region exports about 1.5 million tons of sugar annually, and...
Tipo: Working or Discussion Paper Palavras-chave: International Relations/Trade.
Ano: 2003 URL: http://purl.umn.edu/23069
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2006 OUTLOOK OF THE U.S. AND WORLD SUGAR MARKETS, 2005-2015 AgEcon
Koo, Won W.; Taylor, Richard D..
This report evaluates the U.S. and world sugar markets for 2005-2015 using the Global Sugar Policy Simulation Model. This analysis is based on assumptions about general economic conditions, agricultural policies, population growth, weather conditions, and technological changes. Both the U.S. and world sugar economies are predicted to improve over the next 10 years, mainly because higher world oil prices have increased the conversion of sugar into ethanol by Brazil. Brazil is the largest exporter of sugar, and it is expected that Brazilian sugar exports may be reduced due to high oil prices. World demand for sugar is expected to grow faster than world supply, resulting in Caribbean sugar prices increasing from 11.35 cents/lb in 2005 to 18.05 cents/lb in...
Tipo: Working or Discussion Paper Palavras-chave: Sugar; Production; Exports; Consumption; Ending stocks; Crop Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/23604
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Expected Changes in China's Grain and Oilseed Industries and Implications for the U.S. and World Agriculture AgEcon
Taylor, Richard D.; Koo, Won W..
A spatial optimization model was developed to analyze the impacts of structural changes in China’s consumption of wheat, corn, rice, and soybeans on its agricultural sector and world agricultural trade. The model included 16 exporting and importing countries and regions. China was divided into 31 provinces and the United States into 24 producing regions and 10 consuming regions. The model optimizes agricultural production and distribution systems to meet the predicted demand for grains and oilseeds in 2020 under several assumptions associated with technical progress in producing the grains and oilseeds in China, the United States, and other countries.
Tipo: Report Palavras-chave: Spatial optimization; China; Demand; Supply; Trade; Agricultural commodities; Demand and Price Analysis; Industrial Organization; International Development.
Ano: 2009 URL: http://purl.umn.edu/51991
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