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| Harwood, Joy L.; Heifner, Richard G.; Coble, Keith H.; Perry, Janet E.; Somwaru, Agapi. |
| The risks confronted by grain and cotton farmers are of particular interest, given the changing role of the Government after passage of the 1996 Farm Act. With the shift toward less government intervention in the post-1996 Farm Act environment, a more sophisticated understanding of risk and risk management is important to help producers make better decisions in risky situations and to assist policymakers in assessing the effectiveness of different types of risk protection tools. In response, this report provides a rigorous, yet accessible, description of risk and risk management tools and strategies at the farm level. It also provides never-before-published data on farmers' assessments of the risks they face, their use of alternative risk management... |
| Tipo: Report |
Palavras-chave: Crop insurance; Diversification; Futures contracts; Leasing; Leveraging; Liquidity; Livestock insurance; Marketing contracts; Options contracts; Production contracts; Revenue insurance; Risk; Vertical integration; Farm Management; Risk and Uncertainty. |
| Ano: 1999 |
URL: http://purl.umn.edu/34081 |
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| Zuniga, Manuel; Coble, Keith H.; Heifner, Richard G.. |
| This research evaluates the interaction of new alternative insurance designs, forward pricing tools and the government revenue protection program while assuming a government loan program is in place. A numerical analysis is conducted using a revenue simulation model that incorporates futures prices, basis, and yield variability. Three crop insurance designs at 75 percent of yield guarantee are evaluated. Optimal futures and at-the-money put option hedge ratios are derived for expected utility maximizing of soybean producers. Sensitivity to loan rate levels are examined. Our results suggest that loan programs profoundly alter the optimal producer strategy. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance; Marketing. |
| Ano: 2001 |
URL: http://purl.umn.edu/18965 |
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| Coble, Keith H.; Heifner, Richard G.; Zuniga, Manuel. |
| New types of crop insurance have expanded the tools from which crop producers may choose to manage risk. Little is known regarding how these products interact with futures and options. This analysis examines optimal futures and put ratios in the presence of four alternative insurance coverages. An analytical model investigates the comparative statics of the relationship between hedging and insurance. Additional numerical analysis is conducted which incorporates futures price, basis, and yield variability. Yield insurance is found to have a positive effect on hedging levels. Revenue insurance tends to result in slightly lower hedging demand than would occur given the same level of yield insurance coverage. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2000 |
URL: http://purl.umn.edu/30895 |
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