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Registros recuperados: 31
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A dynamic dual model under state-contingent production uncertainty 31
Serra, Teresa; Stefanou, Spiro E.; Oude Lansink, Alfons G.J.M..
In this paper we assess how production costs and capital accumulation patterns in agriculture have evolved over time, by paying special attention to the influence of risk. A dynamic state-contingent cost minimization approach is applied to assess production decisions in US agriculture over the last century. Results suggest the relevance of allowing for the stochastic nature of the production function which permits to capture both the differences in the costs of producing under different states of nature, the differences in the evolution of these costs over time, as well as the differential impacts of different states of nature on investment decisions.
Tipo: Conference Paper or Presentation Palavras-chave: Risk; State-contingent; Dynamic model; Investment decisions; Agricultural and Food Policy; Farm Management; Land Economics/Use; D21.
Ano: 2010 URL: http://purl.umn.edu/61353
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Are The Spanish Citrus Farms Efficient? 31
Lambarraa, Fatima; Gil, Jose Maria; Serra, Teresa.
Spain occupies the first position in the European and Mediterranean rankings of citrus production and trade. In our analysis we assess the technical efficiency with which this sector is operating. The main objective of this study is to analyze productivity and technical efficiency of Spanish citrus sector through citrus farms with high orange production. A stochastic frontier production model is estimated in which the technical inefficiency effects are defined by the time-varying inefficiency model. A primal approach is used to decompose Total Factor Productivity (TFP) growth into its various components. Results indicate improvement in efficiency scores of Spanish citrus farms along the period studied. Allocative efficiencies, technical efficiency change,...
Tipo: Conference Paper or Presentation Palavras-chave: Productivity Analysis.
Ano: 2007 URL: http://purl.umn.edu/9393
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Decoupling farm policies: how does this affect production? 31
Serra, Teresa; Zilberman, David; Goodwin, Barry K.; Featherstone, Allen M..
This paper studies the extent to which decoupled income support measures in agriculture can have production implications both at the extensive and intensive margins. We develop a theoretical framework that analyzes production responses of agricultural producers to apparently decoupled payments, by explicitly considering risk attitudes and uncertainty. We use farm-level data collected in Kansas to estimate the model. Technology and risk preference parameters are jointly estimated. Results show that though lump sum payments are not fully decoupled in the presence of risk and uncertainty, their effects on agricultural production are likely to be of a very small magnitude.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural and Food Policy.
Ano: 2005 URL: http://purl.umn.edu/19194
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DETERMINANTS OF INVESTMENTS IN NON-FARM ASSETS BY FARM HOUSEHOLDS 31
Serra, Teresa; Goodwin, Barry K.; Featherstone, Allen M..
Off-farm investment decisions of farm households are analyzed. Farm-level data for a sample of Kansas farms observed from 1994 through 2000 are utilized. A system of censored dependent variables is estimated to investigate the factors that influence the composition of farm households’' portfolios. The central question underlying the analysis is whether farm income variability influences off-farm investment decisions. Previous analyses on the determinants of non-farm investments have failed to consider the role of income variability. Our results indicate that higher farm income fluctuations increase the relevance of non-farm assets in the farm household portfolio, thus suggesting that these assets are used as farm risk management tools.
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2004 URL: http://purl.umn.edu/20329
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Differential Uncertainties and Risk Attitudes between Conventional and Organic Producers: The Case of Spanish COP Farmers 31
Serra, Teresa; Zilberman, David; Gil, Jose Maria.
The growing importance of economic factors in farmers’ decision to go organic has raised interest in characterizing the economic behavior of organic versus conventional farms. Published analyses so far have not considered differential uncertainties and farmers’ risk preferences between conventional and organic practices when comparing these techniques. Our article attempts to assess this issue. We use a model of farmer decision under risk to analyze the differential values between Spanish COP organic and conventional farms and to assess the incentives for adoption of organic practices. Results show that organic and conventional farms do have different abilities to control production risk as well as different risk preferences. Organic price premiums and...
Tipo: Conference Paper or Presentation Palavras-chave: Crop Production/Industries; Risk and Uncertainty.
Ano: 2007 URL: http://purl.umn.edu/9696
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Effects of Decoupling on the Average and the Variability of Output 31
Serra, Teresa; Zilberman, David; Goodwin, Barry K.; Featherstone, Allen M..
Previous research has ignored the influence of inputs on output risk when assessing the effects of decoupled income-support payments on production decisions. This paper studies the impacts of agricultural policy decoupling on output variability and mean by explicitly considering the influence of agricultural input use on the stochastic component of production. We develop a theoretical framework that studies production responses of agricultural producers to apparently decoupled payments. Results show that, under DARA preferences, government transfers will have the effect of increasing production risk. Inferences on the effects of payments on output mean are also made. In our empirical application we use farm-level data collected in Kansas to illustrate the...
Tipo: Conference Paper or Presentation Palavras-chave: Decoupling; Output risk; Risk preferences; Just-Pope production function; Demand and Price Analysis; Q12; Q18.
Ano: 2005 URL: http://purl.umn.edu/24601
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Effects of policy instruments on farm investments and production decisions in the Spanish cop sector 31
Kallas, Zein; Gil, Jose Maria; Serra, Teresa.
Our paper asses the impacts of the partially decoupled (PD) scheme, implemented during the 1990s and first half of the 2000s in the framework of the Common Agricultural Policy (CAP), on on-farm investment as well as on other production decisions. The Spanish COP sector was taken as a case study due to its economic and political relevance. The empirical analysis is applied on farm-level data from the Farm Accountancy Data Network (FADN), observed from 2000 to 2004, based on. We use a reduced-form application of the dual model of investment under uncertainty and a system of censored and non censored equations is estimated. PD payments are found to increase short-run production and to generate a statically significant increase in the investment in farm...
Tipo: Conference Paper or Presentation Palavras-chave: Farm investments; Common Agricultural Policy; Decoupling; Production.; Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety.
Ano: 2009 URL: http://purl.umn.edu/58036
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EFFECTS OF POLICY INSTRUMENTS ON FARM INVESTMENTS AND PRODUCTION DECISIONS IN THE SPANISH COP SECTOR 31
Kallas, Zein; Serra, Teresa; Gil, Jose Maria.
Our paper assesses the impacts of the partially decoupled (PD) scheme, implemented during the 1990s and first half of the 2000s in the framework of the Common Agricultural Policy (CAP), on on-farm investment as well as on other production decisions. The Spanish COP sector was taken as a case study due to its economic and political relevance. The empirical analysis is applied on farm-level data from the Farm Accountancy Data Network (FADN), observed from 2000 to 2004, based on. We use a reduced-form application of the dual model of investment under uncertainty and a system of censored and non censored equations is estimated. PD payments are found to increase short-run production and to generate a statically significant increase in the investment in farm...
Tipo: Conference Paper or Presentation Palavras-chave: Farm investments; Common Agricultural Policy; Decoupling; Production; Agricultural and Food Policy; Production Economics; Q12; Q18; D80.
Ano: 2009 URL: http://purl.umn.edu/49971
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Farmer’s objectives as determinant factors of organic farming adoption 31
Kallas, Zein; Serra, Teresa; Gil, Jose Maria.
Our paper seeks to assess the decision to adopt organic farming practices. More specifically, we use Duration Analysis (DA) to determine why farmers adopt organic farming and the timing of adoption. We extend previous studies by including farmers’ objectives, risk preferences and agricultural policies as covariates in the DA model. The Analytical Hierarchy Process (AHP) is used as a multi-criteria decision-making methodology to measure farmers’ objectives. The empirical analysis uses farm-level data collected through a questionnaire to a sample of vineyard holdings in the Spanish region of Catalonia. Farmers’ objectives are found to influence the conversion decision. Moreover, farmers who are not risk averse are more prone to adopt organic farming. Results...
Tipo: Conference Paper or Presentation Palavras-chave: Organic farming adoption; Duration Analysis; Analytical Hierarchy Process; Farmers’ objectives.; Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety.
Ano: 2009 URL: http://purl.umn.edu/58035
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Farms' Technical Inefficiencies in the Presence of Government Programs 31
Serra, Teresa; Zilberman, David; Gil, Jose Maria.
We focus on determining the impacts of government programs on farms’ technical inefficiency levels. We use Kumbhakar’s (2002) stochastic frontier model that accounts for both production risks and risk preferences. Our theoretical framework shows that decoupled government transfers are likely to increase (decrease) DARA (IARA) farmers’ production inefficiencies if variable inputs are risk decreasing. However, the impacts of decoupled payments cannot be anticipated if variable inputs are risk increasing. We use farm-level data collected in Kansas to illustrate the model.
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2007 URL: http://purl.umn.edu/9952
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Farms' technical inefficiencies in the presence of government programs 31
Serra, Teresa; Zilberman, David; Gil, Jose Maria.
We focus on determining the impacts of government programs on farms’ technical inefficiency levels. We use Kumbhakar’s stochastic frontier model that accounts for both production risks and risk preferences. Our theoretical framework shows that decoupled government transfers are likely to increase (decrease) DARA (IARA) farmers’ production inefficiencies if variable inputs are risk decreasing. However, the impacts of decoupled payments cannot be anticipated if variable inputs are risk increasing. We use farm-level data collected in Kansas to illustrate the model.
Tipo: Journal Article Palavras-chave: Just and Pope production function; Agricultural and Food Policy; Farm Management.
Ano: 2008 URL: http://purl.umn.edu/117736
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FOOD SAFETY INFORMATION AND MEAT DEMAND IN SPAIN 31
Radwan, Amr; Gil, Jose Maria; Ben Kaabia, Monia; Serra, Teresa.
This paper analyses the impact of food safety information about the “mad-cow” crisis on the demand for different types of fresh meat and fish in Spain. The theoretical model explicitly incorporates food safety information in the consumers’ utility function, from which demand equations are obtained. Two alternative functional forms have been considered, the standard AIDS and the Generalized Almost ideal Demand System (GAIDS) in order to overcome the problem of incorporating demand shifters in the traditional AIDS model. The food safety information has been incorporated into the demand function through a weighted information index built on the basis of the published news related to the mad-cow disease in the most popular Spanish newspaper. The comparison of...
Tipo: Conference Paper or Presentation Palavras-chave: Meat consumption; Food safety information; BSE; Demand systems; GAIDS; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Q11; C32; D12.
Ano: 2009 URL: http://purl.umn.edu/51540
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Investment rigidity and policy measures 31
Serra, Teresa; Stefanou, Spiro E.; Gil, Jose Maria; Featherstone, Allen M..
This paper assesses the impacts of decoupled government transfers on production decisions of a sample of Kansas farms observed from 1996 to 2001. Our model allows for risk, risk attitudes and the intertemporal investment decisions. We also allow for different adjustments of the decision variables depending on the predominant economic conditions. The theoretical model is estimated using the threshold regression methods proposed by Hansen (1999). Threshold effects are allowed to characterize the behavior of output supply and quasi-fixed and variable input demand.. The econometric results support the existence of three regimes characterized by different economic behavior. Our analysis suggests that in a dynamic setting with risk and non-risk neutral economic...
Tipo: Conference Paper or Presentation Palavras-chave: Investment; Decoupling; Threshold Behaviour; Farm Management; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/6511
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Local Polynomial Fitting and Spatial Price Relationships: Price Transmission in the EU Markets for Pigmeat 31
Serra, Teresa; Gil, Jose Maria; Goodwin, Barry K..
We apply nonparametric methods to assess price transmission processes within the EU pig markets. We compare results derived from nonparametric regressions with those obtained using alternative nonlinear threshold models. Results show that nonparametric regressions support the parametric results. However, parametric techniques often suggest a higher degree of price transmission than that implied by threshold models.
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries; Marketing.
Ano: 2006 URL: http://purl.umn.edu/25388
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Measurement of dynamic efficiency, a directional distance function parametric approach 31
Serra, Teresa; Stefanou, Spiro E.; Oude Lansink, Alfons G.J.M..
This research proposes a parametric estimation of the structural dynamic efficiency measures proposed by Silva and Oude Lansink (2009). Overall, technical and allocative efficiency measurements are derived based on a directional distance function and the duality between this function and the optimal value function. The applicability of the parametric proposal is illustrated by assessing dynamic efficiency ratings for a sample of Dutch dairy farms observed from 1995 to 2005.
Tipo: Conference Paper or Presentation Palavras-chave: Structural dynamic efficiency; Dairy farms; Parametric approach; Agricultural and Food Policy; Farm Management; Land Economics/Use; D21; D24; D61; D92.
Ano: 2010 URL: http://purl.umn.edu/61107
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MODELING CHANGES IN THE U.S. DEMAND FOR CROP INSURANCE DURING THE 1990S 31
Serra, Teresa; Goodwin, Barry K.; Featherstone, Allen M..
The crop insurance purchase decision for a group of Kansas farmers is analyzed using data from 1990s—a period that experienced many changes in the federal crop insurance program. Farm-level data are used. Results indicate a reduction in the elasticity of the demand for crop insurance with respect to premium rates by the end of the decade. This corresponded with a considerable increase in government subsidies by the end of the 1990s. This may also reflect the attractiveness of new revenue insurance products that may have made producers less sensitive to premium changes.
Tipo: Conference Paper or Presentation Palavras-chave: Risk and Uncertainty.
Ano: 2003 URL: http://purl.umn.edu/22019
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MODELING THE IMPACT OF FOOD SAFETY INFORMATION ON MEAT DEMAND IN SPAIN 31
Radwan, Amr; Gil, Jose Maria; Ben Kaabia, Monia; Serra, Teresa.
This paper analyses the impact of food safety information about the 'mad-cow' crisis on the demand for different types of fresh meat and fish in Spain. The theoretical model explicitly incorporates food safety information in the consumers' utility function, from which demand equations are obtained. Two alternative functional forms have been considered, the standard AIDS and the Generalized Almost ideal Demand System (GAIDS) in order to overcome the problem of incorporating demand shifters in the traditional AIDS model. The food safety information has been incorporated into the demand function through a weighted information index built on the basis of the published news related to the mad-cow disease in the most popular Spanish newspaper. The comparison of...
Tipo: Conference Paper or Presentation Palavras-chave: Meat consumption; Food safety information; BSE; Demand systems; GAIDS; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/6672
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Nonlinearities in the US corn-ethanol-oil price system 31
Serra, Teresa; Zilberman, David; Gil, Jose Maria; Goodwin, Barry K..
We use a smooth transition vector error correction model to assess price relationships within the US ethanol industry. Daily ethanol, corn and oil futures prices observed from mid-2005 to mid-2007 are used in the analysis. Results indicate the existence of an equilibrium relationship between ethanol, corn and oil prices. However, only ethanol prices adjust, in a non-linear fashion, to deviations from this long-run parity. Generalized impulse response functions indicate that a shock to both oil and corn prices causes a change in ethanol prices of the same sign. Ethanol responses usually reach a peak after about 10 days of the initial shock and fade away within 35 days.
Tipo: Conference Paper or Presentation Palavras-chave: Biofuels; United States; Cointegration; Threshold; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/6512
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Non-parametric and Parametric Modeling of Biodiesel - Sunflower Oil - Crude Oil Price Relationships 31
Hassouneh, Islam; Serra, Teresa; Gil, Jose Maria.
Multivariate local linear regression and parametric error correction models are applied to assess price linkages and price transmission patterns between food and energy prices in Spain. Weekly biodiesel, sunflower and crude oil prices observed from November 2006 to October 2010 are used in the empirical analysis. Results suggest the existence of a long-run equilibrium relationship between the three prices studied. Biodiesel is the only variable that adjusts to deviations from this long-run parity. Local linear regression techniques show that the speed of adjustment of biodiesel prices is higher when biodiesel is cheap than when it is expensive. Energy prices are also found to influence sunflower oil prices through the short-run price dynamics.
Tipo: Conference Paper or Presentation Palavras-chave: Price transmission; Local linear regression; Biodiesel; Spain; Demand and Price Analysis; Resource /Energy Economics and Policy.
Ano: 2011 URL: http://purl.umn.edu/114554
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PRICE TRANSMISSION AND ASYMMETRIC ADJUSTMENT IN THE SPANISH DAIRY SECTOR 31
Serra, Teresa; Goodwin, Barry K..
Asymmetric threshold error correction models are used to analyze price relationships and patterns of transmission among farm and retail markets for a variety of dairy products in Spain. Our empirical analysis is conducted using both weekly and monthly price data. Our results suggest that the transmission of shocks is largely unidirectional, running from the farm to retail levels. Formal tests confirm asymmetries, though our results suggest that the effects of these asymmetries are modest. Implications for the organizational structure of Spanish dairy markets are offered.
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/19622
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