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| Registros recuperados: 34 | |
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| Wang, H. Holly; Makus, Larry D.; Chen, Xiaomei. |
| The 2002 Food Security and Rural Investment (FSRI) Act introduced a price protection program called Counter Cyclical Payments (CCP) to major grain producers in the US. The CCP program is an addition to the Loan Deficiency Payment (LDP) and Direct Payment (DP) programs from the previous 1996 Federal Agriculture Improvement and Reform (FAIR) Act. At the same time, US federally subsidized crop revenue insurance programs also protect farmers from market and production risks. These government policy programs may crowd out the traditional price risk management role of hedging in commodity futures markets. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy; Crop Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/36259 |
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| Wang, H. Holly; Ke, Bingfan. |
| The efficiency of the Chinese wheat and soybean futures markets is studied. Formal statistical tests were conducted based on Johansen’s cointegration approach for three different cashmarkets and six different futures forecasting horizons ranging from1 week to 4 months.The results suggest a long-termequilibrium relationship between the futures price and cash price for soybeans and weak short-term efficiency in the soybean futures market. The futures market for wheat is inefficient, which may be caused by overspeculation and government intervention. |
| Tipo: Article |
Palavras-chave: Cointegration; Futures market; Price; Soybean; Wheat; Marketing; Risk and Uncertainty. |
| Ano: 2005 |
URL: http://purl.umn.edu/118441 |
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| Wang, H. Holly; Young, Douglas L.; Camara, Oumou M.. |
| Logit and ordered probit analyses were used to identify factors associated with reduced tillage adoption, continuous spring cropping, and the number of changes made in response to wind erosion. Contrary to previous results for water erosion control, simple perception of a wind erosion problem or membership in a particular socioeconomic category did not significantly explain adoption of wind erosion control practices, but participating in a targeted educational program did. This educational program: (a) highlighted the threats of wind erosion to human health and to soil productivity, and (b) described specific potentially profitable farming practices for solving the wind erosion problem. |
| Tipo: Journal Article |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/30906 |
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| Wang, H. Holly; Ke, Bingfan. |
| In this paper, we study the efficiency of the Chinese wheat and soybeans futures markets and assess the conditions in agricultural commodity futures and cash markets in China. Formal statistical tests are conducted through Johansen's cointegration approach to identify the long-term equilibrium relationship between futures and cash markets. Three different cash prices from Zhengzhou Grain Wholesale Market, Tianjin Grain Wholesale Market, and the national average wholesale price are used. The wheat futures price from China Zhengzhou Commodity Exchange and soybeans futures price from Dalian Commodity Exchange with different forecasting horizons ranging from one week to six months are also used. Results suggest that a long-term equilibrium relationship... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2003 |
URL: http://purl.umn.edu/25806 |
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| Liu, Qinghua; Wang, H. Holly. |
| This paper uses of Johansen's multivariate cointegration test to test for egg market integration of six Pacific states, Washington, Idaho, Oregon, California, Nevada, and Arizona. We conclude that eggs from these states substitute for each other to some degree, and arbitrage possibilities through trade bind the egg prices. In addition, the Law of One Price (LOP), the case of perfect integration, is examined by testing the linear combination of cointegration vectors. Test results show that the LOP is not satisfied even though the egg markets in the six Pacific states are highly integrated. Arizona egg prices, California egg prices, and Washington egg prices play dominant roles on the Pacific egg market in the long run. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis; Livestock Production/Industries. |
| Ano: 2003 |
URL: http://purl.umn.edu/21934 |
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| Ge, Yuanlong; Wang, H. Holly; Ahn, Sung K.. |
| The cotton market in China is highly interactive with international markets, especially, the US market. The prices in these two markets can reveal important market relations. Investigating the data of futures prices from the New York Board of Trade (NYBOT) and the Zhengzhou Commodity Exchange (CZCE) using several time series methods, we find a long-run cointegration relationship between these I(1) series. Furthermore, a bi-directional Granger Causality between these two futures markets is detected with Generalized Autoregressive Conditional Heteroskedasticity (GARCH) error specifications. We also find the relationship is impacted by the Chinese exchange rate policy change in the 2005. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Cotton futures prices; Cointegration; Granger causality test; AR-GARCH.; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/37623 |
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| Makus, Larry D.; Wang, H. Holly; Chen, Xiaomei. |
| Risk management strategies (market and insurance based) are evaluated for selected small grain producers in the Pacific Northwest using expected utility maximization. Equivalent variation (EV) compares alternative risk management portfolios to cash sales under specified restrictions and conditions. Resulting EV's are strongly influenced by government payments, and hedging-based strategies are not used when counter cyclical payments are included in government programs. Optimum risk management portfolios include extensive coverage by insurance-based products only when such products have premiums that are heavily subsidized, or have premiums with no significant expense load. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2003 |
URL: http://purl.umn.edu/22257 |
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| Ortega, David L.; Wang, H. Holly; Wu, Laping. |
| China’s transition into a developed economy is driving changes in consumer preferences and demand for foods. The objective of this study is to assess and measure consumers’ preferences for and attitudes toward imported pork in urban China. Estimated logit models based on a consumer survey conducted in 2008 reveal that individuals’ age, shopping location, and food safety concerns significantly influence their willingness to pay for U.S. pork. Factors affecting purchasing behavior of Western-style pork cuts versus traditional Chinese cuts are also evaluated. Consumers’ food safety concerns were linked to a previous lean-meat additive scare and a lack of confidence in the Chinese food inspection system. |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries. |
| Ano: 2009 |
URL: http://purl.umn.edu/99757 |
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| Zhang, Linxiu; Wang, H. Holly; Rozelle, Scott; Yan, Yuanyuan. |
| Although health is an important factor in economic development, millions of China's rural residents have no medical coverage. Nearly 10 percent of those that were sick in rural China consciously did not seek medical care, mostly because of financial constraints. More than 25% of rural residents are dissatisfied with their village's health system. In response to this deteriorating situation, a new cooperative medical system (NCMS) was initialized in rural China in 2003 by the government. However, after two years of trials, there has been no household-based, economic analysis of the program. This paper provides one of the first. Although where introduced, most rural residents voluntarily participate, there are many problems with the program. First, at least... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Rural Health; Insurance; Targeting; Design Problems; China; Health Economics and Policy; I11; O15; O53. |
| Ano: 2006 |
URL: http://purl.umn.edu/25586 |
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| Du, Wen; Wang, H. Holly. |
| In this paper we attempt an intertemporal study of risk management decisions for wheat growers in the Pacific Northwest. We apply a generalized expected utility model (GEU) to examine the farmers optimal choices of hedging ratios and crop insurance coverage levels in the presence of government payment programs in a multi-period production environment. A stochastic trend model is used to identify the long-term time series patterns of annual wheat yields, cash prices, and futures prices from two counties in Washington. The fitted models are then used as the base for yield and price simulation over the next five years. The stochastic dynamic optimization problem is solved numerically based on simulated data. The optimal solutions indicate that the GEU model... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop Production/Industries; Risk and Uncertainty. |
| Ano: 2004 |
URL: http://purl.umn.edu/36205 |
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| Wang, H. Holly; Zhang, Hao. |
| Risk theory tells us if an insurer can effectively pool a large number of individuals to reduce the total risk, he then can provide the insurance by charging a premium close to the actuarially fair rate. There is, however, a common belief that the risk can be effectively pooled only when the random loss is independent, so that crop insurance markets cannot survive without government subsidy because crop yields are not independent among growers. In this paper, we take a a spatial statistics approach to examine the effectiveness of risk pooling for crop insurance under correlation. We develop a method for evaluating the effectiveness of risk pooling under correlation and apply the method to three major crops in the US: wheat, soybeans and corn. The empirical... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2002 |
URL: http://purl.umn.edu/19633 |
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| Karuaihe, Raphael N.; Wang, H. Holly; Young, Douglas L.. |
| Weather constitutes the major source for production risk in agriculture. Weather index can be used construct crop insurance that demand less information and can avoid moral hazard and adverse selection problems. Based on mean-variance model, theoretical results on the optimal insurance coverage and its impact from risk preference, basis risk, and premium loading are derived, which are quite consistent to the empirical results from the expected utility model. Using South Africa corn data, we investigate growers' demand and efficiency of alternative hypothetical weather index crop insurance programs. In contrast to previous work that suggests that a single-variable weather index suffices to develop an insurance contract, this study shows that the insured... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty; C51; C61; G22; Q14. |
| Ano: 2006 |
URL: http://purl.umn.edu/25378 |
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| Zheng, Qiujie; Wang, H. Holly; Shi, Qinghua. |
| Modeling crop yield distributions has been an important topic in agricultural production and risk analysis, and nonparametric methods have gained attention for their flexibility in describing the shapes of yield density functions. In this article, we apply a nonparametric method to model joint yield distributions based on farm-level data for multiple crops, and also provide a way of simulation for univariate and bivariate distributions. The results show that the nonparametric models, both univariate and bivariate, are estimated quite well compared to the original samples, and the simulated empirical distributions also preserve the attributes of the original samples at a reasonable level. This article provides a feasible way of using multivariate... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Yield distribution; Multi-variate nonparametric; China; Farm-level; Risks; Farm Management; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/6509 |
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| Registros recuperados: 34 | |
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