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| Harris, James Michael; Williams, Robert P.; Morehart, Mitchell J.; Erickson, Kenneth W.; Mishra, Ashok K.. |
| The financial health of the agricultural economy has been excellent for the past few years, especially with farm income reaching record levels. However, the U.S. economy has experienced a recession and a credit crisis. Although the U.S. farm sector has been mostly shielded from the economic downturn, farm financial stress is still possible under current conditions. Are some U.S. farm businesses, especially those with term debt, poised to experience significant financial stress in 2010? We use the Agricultural Resource Management Survey (ARMS), sponsored jointly by USDA’s Economic Research Service (ERS) and National Agricultural Statistical Service, to help answer this question. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Off-farm income; Farm investment; Double hurdle; Agricultural Finance; Financial Economics; D1; J2. |
| Ano: 2010 |
URL: http://purl.umn.edu/61528 |
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| Mary, Sebastien. |
| The Common Agricultural Policy has radically been reformed in 2003 with the introduction of “decoupled” direct payments. Economic theory suggests that direct payments are expected to have no impact on production in a static deterministic environment with perfect markets for capital and labour. But if factor market imperfections or uncertainty are taken into account, this is no longer true. Taking into account these potential impacts, the empirical literature has studied the impacts of farm payments. However, most studies are based on assumptions such as perfect markets, risk neutrality or static environment. Recent researches have also often neglected the role of debt constraints. The paper develops and numerically solves a dynamic stochastic farm... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Single Farm Payment; Farm investment; Dynamic stochastic farm household model; Debt constraints.; Agricultural and Food Policy; Q12; Q18. |
| Ano: 2010 |
URL: http://purl.umn.edu/91681 |
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| Petrick, Martin. |
| The aim of this paper is to empirically analyse the effects of governmentally promoted credit access on the investment behaviour of credit rationed farmers. This is done by specifying an empirical investment equation which is estimated on a cross-sectional sample of Polish farm household data. In contrast to conventional neo-classical investment models, the investment equation contains the financial variable long-term credit access, which plays the central role in this study. The econometric analysis is used to analyse the determinants of credit access and estimate the marginal effect of credit on investment, which in turn provides the key information for policy evaluation. The results suggest that access to subsidised credit has a significant role in... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Farm investment; Credit policy; Poland; Microeconometrics; Agricultural Finance; Q12; Q14; P32. |
| Ano: 2002 |
URL: http://purl.umn.edu/14872 |
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