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A Brief History of the Agricultural Economics and Agribusiness Department at the University of Arkansas, Fayetteville 1924-2009 AgEcon
Dixon, Bruce L.; Minden, Alicia.
Tipo: Working or Discussion Paper Palavras-chave: Department history; Teaching; Research; Grants; Personnel; Publication outlets; Teaching/Communication/Extension/Profession; Q10; A30; N90.
Ano: 2009 URL: http://purl.umn.edu/55779
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A COMPARISON OF VARIOUS FRONTIER ESTIMATION METHODS UNDER DIFFERING DATA GENERATION ASSUMPTIONS AgEcon
Settlage, Daniel M.; Dixon, Bruce L.; Thomsen, Michael R..
Monte Carlo methods examine the accuracy of several production frontier approximating forms, estimators and methods to rank firms by level of predicted technical efficiency. Results show stochastic frontier methods superior to data envelopment analysis. The Cobb-Douglas approximating form is superior to the translog or generalized Leontief.
Tipo: Working or Discussion Paper Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2000 URL: http://purl.umn.edu/15773
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A MONTE CARLO COMPARISON OF ALTERNATIVE ESTIMATORS OF AUTOCORRELATED SIMULTANEOUS SYSTEMS USING A U.S. PORK SECTOR MODEL AS THE TRUE STRUCTURE AgEcon
Naik, Gopal; Dixon, Bruce L..
Monte Carlo analysis of the performance of alternative estimators of simultaneous system's coefficients in the presence of autocorrelation is performed. The "true" underlying model is an estimated, three-equation, monthly model of the U.S. pork market. Estimators for ex post forecasts are also compared. Multicollinearity is found to be a salient characteristic likely adversely affecting estimator performance. Results show that correcting for autocorrelation is desirable when levels of autocorrelation are high for both parameter accuracy and ex post forecasting. However, the best structural coefficient estimator for high levels of autocorrelation is not necessarily the best estimator for ex post forecasting.
Tipo: Journal Article Palavras-chave: Livestock Production/Industries; Research Methods/ Statistical Methods.
Ano: 1986 URL: http://purl.umn.edu/32250
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ANALYSIS OF BORROWER AND LENDER USE OF INTEREST ASSISTANCE ON FSA GUARANTEED FARM LOANS AgEcon
Ahrendsen, Bruce L.; Koenig, Steven R.; Dixon, Bruce L.; Dodson, Charles B.; Settlage, Latisha A..
The Farm Security and Rural Investment Act of 2002 made permanent the interest assistance program for the Farm Service Agency's guaranteed loans, authorized a significant increase in funding for the program, and targeted funding for beginning farmers and ranchers. The research presented here provides a basic descriptive analysis of past use. In particular, borrower data for Federal fiscal years 1985 through 2002 are examined in several dimensions. These dimensions include geographic, borrower type, lender type, interest rate differentials, percent guarantee, and the status of the loan as to whether a loss claim was paid or the loan remained active. Even though the program has been in existence for more than 15 years, little is known about its impact...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural and Food Policy; Agricultural Finance.
Ano: 2004 URL: http://purl.umn.edu/15778
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Analysis of Farm Service Agency Direct Loan Loss Likelihoods and Loss Rates AgEcon
Ahrendsen, Bruce L.; Dixon, Bruce L.; Nwoha, Ogbonnaya John; Hamm, Sandra J.; Danforth, Diana M..
The USDA's Farm Service Agency (FSA) serves as the nation's lender of last resort by providing direct loans to farmers unable to obtain credit at reasonable rates and terms. Annual loan losses have been substantial, averaging $576 million for fiscal 1994-2004. An econometric model using survey data from a sample of FSA loans originated in fiscal 1994-1996 is estimated to identify factors associated with loan losses. The results indicate previous debt settlement experience, loan type, farm type, farm size, and farm financial characteristics are important factors. This information may be used by FSA to adjust its underwriting standards in an effort to reduce loan losses and provide additional loans to farmers given its current funding.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural Finance.
Ano: 2006 URL: http://purl.umn.edu/21454
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Analysis of Participation in Multifunctional Agriculture: U.S. Rice Farms AgEcon
Tur Cardona, Juan; Wailes, Eric J.; Dixon, Bruce L.; Danforth, Diana M..
Multifunctional agriculture is particularly fundamental to some working lands conservation policies and programs, such as the Environmental Quality Incentive Program (EQIP), Conservation Security Program (CSP) and Wildlife Habitat Incentive Program (WHIP). Farmers can also be engaged in providing recreational and agri-tourism services such as hunting, fishing, bird-watching, farm tours, petting zoos and hospitality services. Using the Agricultural Resource Management Survey (ARMS) we analyze factors associated with participation in conservation, recreation and agri-tourism activities as a function of farm structure, farm financial measures, production practices, and socio-demographic characteristics of the farm operator. To estimate the functional...
Tipo: Presentation Palavras-chave: Multifunctional agriculture; Agri-environmental policy; Rice; Logistic model; Agricultural and Food Policy; Community/Rural/Urban Development; Crop Production/Industries; Environmental Economics and Policy; Land Economics/Use; Q18; Q26; Q28.
Ano: 2012 URL: http://purl.umn.edu/119750
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Analysis of Participation in Multifunctional Agriculture: U.S. Rice Farms AgEcon
Tur Cardona, Juan; Wailes, Eric J.; Dixon, Bruce L.; Danforth, Diana M..
Multifunctional agriculture is particularly fundamental to some working lands conservation policies and programs, such as the Environmental Quality Incentive Program (EQIP), Conservation Security Program (CSP) and Wildlife Habitat Incentive Program (WHIP). Farmers can also be engaged in providing recreational and agri-tourism services such as hunting, fishing, bird-watching, farm tours, petting zoos and hospitality services. Using the Agricultural Resource Management Survey (ARMS) we analyze factors associated with participation in conservation, recreation and agri-tourism activities as a function of farm structure, farm financial measures, production practices, and socio-demographic characteristics of the farm operator. To estimate the functional...
Tipo: Presentation Palavras-chave: Multifunctional agriculture; Agri-environmental policy; Rice; Logistic model; Agricultural and Food Policy; Land Economics/Use; Q18; Q26; Q28.
Ano: 2012 URL: http://purl.umn.edu/119768
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Analyzing FSA Direct Loan Borrower Payback Histories: Predictors of Financial Improvement and Loan Servicing Actions AgEcon
Landerito, Aiko O.; Dixon, Bruce L.; Ahrendsen, Bruce L.; Hamm, Sandra J.; Danforth, Diana M..
Classical and count data regression models are estimated to predict improvement in three key financial indicators—net worth, debt-to-asset ratio and current ratio—as well as the number of loan restructurings and delinquencies. Data consist of Farm Service Agency direct loans originated in fiscal years 1994-1996. Models to predict outcomes vary by loan type. Models explaining variation in the financial measures have modest explanatory power but initial levels of debt-to-asset ratio and current ratio are significant in explaining changes in debt-to-asset ratios and current ratios, respectively. Models explaining number of restructurings and delinquencies for operating loans have satisfactory explanatory power. Increasing crop revenues to total farm...
Tipo: Conference Paper or Presentation Palavras-chave: FSA direct loans; Financial improvement; Loan servicing actions; Agricultural Finance; Farm Management; Q14; Q12.
Ano: 2009 URL: http://purl.umn.edu/49340
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Arkansas Landlord Selection of Land-Leasing Contract Type and Terms AgEcon
Rainey, Ronald L.; Dixon, Bruce L.; Ahrendsen, Bruce L.; Parsch, Lucas D.; Bierlen, Ralph W..
Land leasing is a major source of the land input to production agriculture. Responses from a survey of landlords leasing crop land in Arkansas are analyzed to better understand those factors motivating landlords in the type of lease they select and the terms of those leases. Probit models are estimated to determine the relative importance of variables representing credit constraint, agency problem, and risk aversion factors. Regression models then estimate the impact of site, landlord, and tenant characteristics on contract terms – the percentage of crop and cost sharing arrangements between landlord and tenant. Probit results suggest credit constraint factors influence lease-type selection. Risk aversion, managerial ability, and social capital factors are...
Tipo: Journal Article Palavras-chave: Land leasing; Probit; Contract; Production agriculture; Land Economics/Use.
Ano: 2005 URL: http://purl.umn.edu/8175
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COMBINING ECONOMIC AND BIOLOGICAL DATA TO ESTIMATE THE IMPACT OF POLLUTION ON CROP PRODUCTION AgEcon
Dixon, Bruce L.; Garcia, Philip; Adams, Richard M.; Mjelde, James W..
Duality methods utilizing a profit function framework are employed to estimate the output elasticity of ambient ozone levels on cash grain farms in Illinois. While duality methods have been recommended as a cure to many of the statistical problems of direct estimation of production functions, multicollinearity may still be a problem. A method for utilizing stochastic information on parameters of a seemingly unrelated system of equations, which is implied by profit function estimation, is developed and applied to measuring the impact of ozone. Such an approach may be necessary in measuring other environmental effects because of a lack of regressor variability.
Tipo: Journal Article Palavras-chave: Crop Production/Industries; Environmental Economics and Policy.
Ano: 1984 URL: http://purl.umn.edu/32140
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Comparative Financial Characteristics of U.S. Farms by Type, 2005 AgEcon
Chavez, Eddie C.; Dixon, Bruce L.; Ahendsen, Bruce L.; Wailes, Eric J..
This study presents and analyzes the mean financial characteristics of different types of crop and livestock farms in the U.S. in 2005. The eighteen farm types are: poultry, beef cattle, hogs, dairy, general livestock, general cash grain, wheat, corn, soybean, grain sorghum, rice, tobacco, cotton, peanut, general crop, fruits and tree nuts, vegetables, and nursery and greenhouse. Significant, two-way statistical differences in mean farm income statement and farm balance sheet variables are highlighted. Results provide a general indication of the comparative profitability, liquidity, solvency, and financial efficiency of different types of U. S. crop and livestock farms.
Tipo: Working or Discussion Paper Palavras-chave: Farm type; ARMS data; Financial characteristics; Financial ratios; 2005; Agricultural Finance; Production Economics; Q12; Q14; D21.
Ano: 2009 URL: http://purl.umn.edu/55780
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Competing Risk Proportional Hazard Models of Farm Service Agency Direct Operating Loans AgEcon
Dixon, Bruce L.; Ahrendsen, Bruce L.; Foianini, Monica; Hamm, Sandra J.; Danforth, Diana M..
The USDA Farm Service Agency (FSA) direct farm loan program is designed to provide credit to family-sized farms unable to obtain credit from conventional sources at reasonable rates and terms despite having sufficient cash flow to repay and an ability to fully securitize the loan. FSA policy encourages borrowers to exit the program as soon as possible. This study uses Cox proportional hazard models in a competing risks framework to identify predictive factor of: (1) loan success or default, and (2) length of time to loan termination. Survey data from 1925 direct loans originated in federal fiscal years 1994-95 are used for analysis. Only data available to FSA at time of origination were collected. Since these data are all the information FSA has at time...
Tipo: Journal Article Palavras-chave: Duration; Farm Service Agency; Direct loans; Competing risks; Agricultural Finance; Risk and Uncertainty; C29; G28; Q12; Q14.
Ano: 2008 URL: http://purl.umn.edu/48140
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CONTRACT CHOICE SELECTION WITH LAND-LEASING AGREEMENTS AgEcon
Rainey, Ronald L.; Dixon, Bruce L.; Ahrendsen, Bruce L.; Parsch, Lucas D.; Bierlen, Ralph W..
This study tests cropland contract hypotheses utilizing a landlord data set. Ordered probit and classical regression models are estimated and presented identifying factors that affect the contract type selection and terms. Results suggest credit constraints are a viable land-leasing hypothesis. Risk aversion, managerial ability, and social capital are also supported.
Tipo: Conference Paper or Presentation Palavras-chave: Land Economics/Use.
Ano: 2001 URL: http://purl.umn.edu/20644
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DEBT DEPRECIATION, CONGLOMERATION, AND CREDIT CONSTRAINTS: EVIDENCE FROM CATTLE CYCLES AgEcon
Bierlen, Ralph W.; Dixon, Bruce L.; Ahrendsen, Bruce L..
We search for evidence consistent with the notion that endogenous credit constraints play a role in cattle cycles. Beef cow inventories are found to be more sensitive to credit constraints during periods of falling than rising asset values. Inventories of heifer replacements exhibit only weak sensitivity to credit constraints during periods of falling asset values.
Tipo: Conference Paper or Presentation Palavras-chave: Financial Economics; Livestock Production/Industries.
Ano: 1998 URL: http://purl.umn.edu/20867
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DETERMINANTS OF LENDER RESPONSE TO SHORT-TERM CREDIT NEEDS OF SMALL COMMERCIAL FARMERS AgEcon
Sonka, Steven T.; Dixon, Bruce L..
Tipo: Journal Article Palavras-chave: Agricultural Finance.
Ano: 1979 URL: http://purl.umn.edu/29534
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DISTRIBUTIONAL IMPACTS OF CAPPING ELIGIBILITY FOR COMMODITY PROGRAM PAYMENTS AgEcon
Wailes, Eric J.; Chavez, Eddie C.; Danforth, Diana M.; Ahrendsen, Bruce L.; Dixon, Bruce L..
Tipo: Article Palavras-chave: Adjusted Gross Income; Commodity Payments; Eligibility; Means Test; Resource /Energy Economics and Policy; Q12; Q18.
Ano: 2011 URL: http://purl.umn.edu/120006
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Envesting in an Agricultural Legacy: Impact of a Targeted Young and Beginning Farmer Loan Program in Arkansas AgEcon
Goeringer, L. Paul; Goodwin, Harold L., Jr.; Dixon, Bruce L.; Popp, Michael P..
America’s agricultural producers continue to age. According to the U.S. Census of Agriculture, the average age of farm operators increased from 55.3 in 2002 to 57.1 in 2007. During the same period, the Census shows a thirty percent decrease in the number of farmers under the age of 25. Young and beginning producers (YBPs) entering agriculture can be faced with high startup costs and the lack of land to own or rent. To address this potential shortage of future farmers, we propose a program for the Farm Credit System to assist YBPs by offering Farm Service Agency guaranteed loans. In this program YBPs are given concessionary interest rates in consideration for adopting conservation and recommended “best” practices. To gauge the impact of the loan...
Tipo: Presentation Palavras-chave: Agribusiness; Agricultural Finance; Farm Management; Production Economics.
Ano: 2012 URL: http://purl.umn.edu/124427
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ESTIMATING CORN YIELD RESPONSE MODELS TO PREDICT IMPACTS OF CLIMATE CHANGE AgEcon
Dixon, Bruce L.; Hollinger, Steven E.; Garcia, Philip; Tirupattur, Viswanath.
Projections of the impacts of climate change on agriculture require flexible and accurate yield response models. Typically, estimated yield response models have used fixed calendar intervals to measure weather variables and omitted observations on solar radiation, an essential determinant of crop yield. A corn yield response model for Illinois crop reporting districts is estimated using field data. Weather variables are time to crop growth stages to allow use of the model if climate change shifts dates of the crop growing season. Solar radiation is included. Results show this model is superior to conventionally specified models in explaining yield variation in Illinois corn.
Tipo: Journal Article Palavras-chave: Crop Production/Industries.
Ano: 1994 URL: http://purl.umn.edu/31229
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ESTIMATING PRINCIPAL OUTSTANDING MODELS FOR FARM SERVICE AGENCY GUARANTEED LOANS AgEcon
Settlage, Latisha A.; Dixon, Bruce L.; Ahrendsen, Bruce L.; Koenig, Steven R..
Financial, farm economy and bank factors are hypothesized to explain variation in FSA guaranteed loan principal outstanding. Regression models using state-level data (1990-1998) are estimated. Debt-to-asset ratios, percentage of agricultural revenues due to crops, interest rates, and off-farm income are significant variables for both farm ownership and operating loan principal.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural Finance.
Ano: 2001 URL: http://purl.umn.edu/20738
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ESTIMATING THE VALUE OF SEQUENTIAL UPDATING SOLUTIONS FOR INTRAYEAR CROP MANAGEMENT AgEcon
Mjelde, James W.; Dixon, Bruce L.; Sonka, Steven T..
Results of comparing updating versus nonupdating modeling assumptions call into question the use of models based on nonupdating strategies as valid representations of actual farmer actions. If farmers are sequential updaters, the results indicate that models assuming no updating are inaccurate. The degree of this inaccuracy ranges between 4% and 10% of profits for the study area. Further, the results indicate that updating appears to be important for both descriptive and prescriptive studies of farmer behavior.
Tipo: Journal Article Palavras-chave: Crop Production/Industries.
Ano: 1989 URL: http://purl.umn.edu/32447
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