|
|
|
| Registros recuperados: 46 | |
|
|
| Bekkerman, Anton; Smith, Vincent H.; Watts, Myles J.. |
| The Supplemental Revenue Assistance Payments (SURE) program, enacted under the 2008 Farm Bill, is intended to provide indemnity payments to producers whose crop losses exceed 50% of their historical average yields. However, indemnification does not require that the farm is located in a region designated a disaster relief area -- a provision that can create significant moral hazard incentives. This study is the first to perform an empirical analysis of possible moral hazard behavior in corn, soybean, and wheat markets in response to the SURE program. Results suggest that an increase in crop insurance demand after the enactment of SURE may be due to the program's moral hazard incentives. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy; Farm Management. |
| Ano: 2010 |
URL: http://purl.umn.edu/61154 |
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
|
| McNew, Kevin; Smith, Vincent H.. |
| The introduction of genetically modified grain and oilseed products at the farm level and resistance for these products by consumer groups have led to segmentation in grain markets. This study explores the implications for market price behavior for a segregated soybean market for genetically modified (GM) and non-GM varieties. A stochastic dynamic simulation model of production and storage is solved, and Monte Carlo simulation procedures are used to examine price behavior between GM and non-GM soybeans. The results suggest important differences in price behavior between GM and non-GM soybeans. The results obtained in the model simulations are compared with evidence from the Tokyo Grain Exchange, where non-GM and GM soybean futures contracts have traded... |
| Tipo: Journal Article |
Palavras-chave: Genetically modified organisms; Soybeans; Storage; Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/30722 |
| |
|
| |
|
|
| Smith, Vincent H.. |
| This paper uses a deterministic asset replacement model to examine the implications of the 1986 Tax Reform Act (TRA) for replacement investment in U.S. agriculture. The optimal replacement age for an asset is shown to be inversely related to the size of investment tax credits and the present value of depreciation allowances but generally directly related to marginal tax rate. Simulation results indicate that the net effects of the TRA vary across assets. Replacement ages for assets with relatively long depreciation lives (e.g., farm structures) tend to fall. Those for assets with relatively short depreciation lives rise (e.g., tractors). |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 1990 |
URL: http://purl.umn.edu/29906 |
| |
|
|
| Goodwin, Barry K.; Smith, Vincent H.. |
| Dynamic relationships among three classes of wheat are investigated using threshold VAR models that incorporate the effects of protein availability. Changes in the stock of protein are found to generate significant responses in the prices of hard red spring wheat and hard red winter wheat, but not soft red wheat. The responses to identical changes in protein stocks are larger when the magnitudes of deviations of protein stocks from normal levels are large. Shocks to the prices of individual classes of wheat result in complex responses in the prices of the other wheat classes. Notably, however, a shock to the price of hard red winter wheat appears to result in little or no response in the price of hard spring wheat, though importantly, the opposite is not... |
| Tipo: Report |
Palavras-chave: Protein; Thresholds; Vector autoregressions; Wheat prices; Crop Production/Industries. |
| Ano: 2009 |
URL: http://purl.umn.edu/54544 |
| |
|
| |
|
|
| Goodwin, Barry K.; Smith, Vincent H.. |
| Dynamic relationships between three classes of wheat are investigated using threshold VAR models incorporating the effects of protein availability. Changes in the stock of protein are found to generate significant impulse responses in the price of hard spring red wheat and hard red winter wheat but not soft red wheat. These impulse responses to identical changes in protein stocks are larger when the absolute deviations of protein stocks from normal levels are large. Shocks to the prices of individual classes of wheat result in complex impulse responses in the prices of the other wheats. Notably, however, a shock to the price of hard red winter wheat appears to result in little or no impluse response in the price of hard spring wheat, though, importantly,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2005 |
URL: http://purl.umn.edu/29156 |
| |
|
|
| Gray, Richard S.; Smith, Vincent H.. |
| The United States and Canada share the longest common border and largest bilateral trading relationship in the world. Recent trading agreements--CUSTA, NAFTA and WTO--have enhanced trade by encouraging elimination of many remaining trade barriers. However, one cause for concern about the effectiveness of these trade agreements has been the frequency of Canadian-U.S. trade disputes over bilateral wheat and barley trade arrangements and trade flows. To some extent, these disputes have arisen because of differences in and lack of harmonization between the domestic and trade policies implemented by the two countries, although other political factors have also clearly been important causes of these disagreements. Since 1986, many dimensions of the agricultural... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural policy; Harmonization and convergence; Grains; Oilseeds; International Relations/Trade; Q1. |
| Ano: 1997 |
URL: http://purl.umn.edu/29163 |
| |
|
| |
|
| |
|
|
| Smith, Vincent H.; Chouinard, Hayley H.; Baquet, Alan E.. |
| Using yield data for a sample of 123 dryland wheat producers in Montana, the effects of three area yield contracts, including the contract currently offered by the United States Federal Crop Insurance Corporation and two individual yield contracts on individual farm yield variability, are examined. The results indicate that while the Federal Crop Insurance Corporation area yield contract provides all farmers in the sample with some protection against yield variability, a simpler, actuarially equivalent "almost ideal" area yield contract provides substantially larger reductions in yield variability. However, actuarially equivalent individual yield contracts provide levels of protection against yield variability similar to those obtained under the "almost... |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1994 |
URL: http://purl.umn.edu/31315 |
| |
|
| |
|
|
| Alston, Julian M.; Pardey, Philip G.; Smith, Vincent H.. |
| Governments everywhere are trimming their support for agricultural R&D, giving greater scrutiny to the support that they do provide, and reforming the public agencies that fund, oversee, and carry out the research. This represents a break from previous patterns, which had consisted of expansion in the public funds for agricultural R&D. Private-sector spending on agricultural research has slowed along with the growth of public spending in recent years, but the balance continues to shift towards the private sector. This article presents a quantitative review of these funding trends and the considerable institutional changes that have accompanied them. We discuss new data for 22 OECD countries, providing institutional details for five of these... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1997 |
URL: http://purl.umn.edu/16096 |
| |
|
|
| Alston, Julian M.; Pardey, Philip G.; Smith, Vincent H.. |
| Governments everywhere are trimming their support for agricultural R&D, giving greater scrutiny to the support that they do provide, and reforming the public agencies that fund, oversee, and carry out the research. This represents a break from previous patterns, which had consisted of expansion in the public funds for agricultural R&D. Private‐sector spending on agricultural research has slowed along with the growth of public spending in recent years, but the balance continues to shift towards the private sector. This article presents a quantitative review of these funding trends and the considerable institutional changes that have accompanied them. We discuss new data for 22 OECD countries, providing institutional details for five of these... |
| Tipo: Journal Article |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1998 |
URL: http://purl.umn.edu/117222 |
| |
|
|
| Smith, Vincent H.. |
| In this report, important wheat quality attributes and their links to varietal differences are identified, and their technical and economic importance to the milling and baking industries is examined. Wheat class and grading systems used in the United States and other countries are described, and the relationships between wheat classes and wheat varieties and between physical and wholesomeness attributes and grades are identified. The per bushel prices received by farmers' for their wheat depend on the classes and grades of wheat they produce. However, wheat classes and, to some degree, grades are linked to varietal choices and those choices also affect average per acre yields and year-to-year yield variability. Therefore, this report also examines the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Grain trade; Grain quality; Wheat trade; Wheat quality; U.S. wheat; International Relations/Trade; F1; Q1. |
| Ano: 2000 |
URL: http://purl.umn.edu/29174 |
| |
| Registros recuperados: 46 | |
|
|
|
