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| Chavas, Jean-Paul; Kim, Kwansoo; Lauer, Joseph G.; Klemme, Richard M.; Bland, William L.. |
| This study investigates the recent evolution of corn yield, with a special focus on the tradeoff between corn profitability and risk. The analysis relies on time-series data from Wisconsin experimental farms at the edge of the Corn Belt. An econometric model of corn yield, corn grain moisture, and corn profitability is specified. Both conditional means and conditional variances are estimated for different sites in Wisconsin. The empirical analysis shows the changes in corn yield and profit over time and across space. The evidence suggests that yield trends are due mostly to technical progress, with smaller effects generated by climate change. On average, corn yield and profitability have improved faster in northern Wisconsin than in the Corn Belt.... |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/31152 |
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| Barham, Bradford L.; Chavas, Jean-Paul; Klemme, Richard M.. |
| This paper proposes a new way to evaluate the role of profitability and risk in the dairy industry, one that incorporates the effects of uncertainty about future returns when investments are irreversible, or sunk. The usefulness of this new approach is demonstrated by the light it sheds on recent attempts by Wisconsin dairy farmers to develop low capital investment strategies and why these initiatives might be crucial to the vitality of the state's industry as a whole. The value of this paper, however, reaches beyond the contribution it offers to comparisons of the viability of alternative investment strategies in dairy, because it is applicable to evaluating profitability and risk in any economic activity, inside or outside of agriculture, where much of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1994 |
URL: http://purl.umn.edu/12631 |
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