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Author: Ceballos, Francisco
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 48
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Book Description
This paper develops a novel methodology to estimate the degree of spatial basis risk for an arbitrary rainfall index insurance instrument. It relies on a widelyused stochastic rainfall generator, extendedto accommodate nontraditional dependence patterns—in particular spatial upper-tail dependence in rainfall—through a copula function. The methodology is applied to a recentlylaunched index product insuring against excess rainfall in Uruguay. The model is first calibrated using historical daily rainfall data from the national network of weather stations, complemented with a unique,high-resolution dataset from a dense network of 34 automatic weather stations around the study area. The degree of downside spatial basis risk is then estimated by Monte Carlo simulations and the results are linked to both a theoretical model of the demand for index insurance and to farmers’ perceptions about the product.
Author: Ceballos, Francisco
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 48
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Book Description
This paper develops a novel methodology to estimate the degree of spatial basis risk for an arbitrary rainfall index insurance instrument. It relies on a widelyused stochastic rainfall generator, extendedto accommodate nontraditional dependence patterns—in particular spatial upper-tail dependence in rainfall—through a copula function. The methodology is applied to a recentlylaunched index product insuring against excess rainfall in Uruguay. The model is first calibrated using historical daily rainfall data from the national network of weather stations, complemented with a unique,high-resolution dataset from a dense network of 34 automatic weather stations around the study area. The degree of downside spatial basis risk is then estimated by Monte Carlo simulations and the results are linked to both a theoretical model of the demand for index insurance and to farmers’ perceptions about the product.
Author: Diane Singerman
Publisher: Oxford University Press
ISBN: 9774162897
Category : Architecture
Languages : en
Pages : 563
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Book Description
"After a failed study mission in France, Abd al-Rahman returns home to Iraq to launch an existentialist movement akin to that of his hero. Convinced that it falls upon him to introduce his country's intellectuals to Sartre's thought, he feels especially qualified by his physical resemblance to the philosopher (except for the crossed eyes) and by his marriage to Germaine, who he claims is the great man's cousin. Meanwhile, his wealth and family prestige guarantee him an idle life spent in drinking, debauchery, and frequenting a well-known nightclub. But is his suicide an act of philosophical despair, or a reaction to his friend's affair with Germaine? A biographer chosen by his presumed friends narrates the story of a somewhat bewildered young man who-like other members of his generation-was searching for a meaning to his life. This parody of the abuses and extravagances of pseudo-philosophers in the Baghdad of the sixties throws into relief the Iraqi intellectual and cultural life of the time and the reversal of fortune of some of Iraq's wealthy and powerful families."--Publisher description.
Author: Ignacio Rodríguez-Iturbe
Publisher: Cambridge University Press
ISBN: 9780521036740
Category : Science
Languages : en
Pages : 0
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Book Description
Addressing the connections between the hydrologic cycle and plant ecosystems, the authors build suitable mathematical models and apply them to studying the ecosystem structure. Response to rainfall and climate forcing is analyzed from different areas of the world, including savannas, grasslands and forests. The book will appeal to advanced students and researchers in environmental science, hydrology, ecology, earth science, civil and environmental engineering, agriculture, and atmospheric science.
Author: Harold Alderman
Publisher: World Bank Publications
ISBN: 0821370375
Category : Social Science
Languages : en
Pages : 48
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Book Description
Uninsured risk had far-reaching consequences for rural growth as well as poverty reduction. A range of informal mechanisms to insure rural households against the impact of shocks, but they are a modest component of a risk layering strategy for well-off households and even less protective for low-income households. Formal insurance mechanisms have inherent market imperfections. State interventions to address these limitations have proven costly and generally are targeted poorly. Recent developments in microfinance as well as in insurance marketing have opened new possibilities for household risk reduction. Index insurance, such as weather indexing, addresses other inherent problems in insurance by using an indicator that is not affected by individual behaviour and may address monitoring costs and moral hazard. A number of innovations using index insurance are being tried currently in diverse settings ranging from India to Mongolia to Malawi. Marketing costs may limit the provision of such insurance to small farmers, but even in such cases microfinance institutes may serve as market intermediaries. Moreover, state and submational governments can use insurance to achieve countercyclical funding programs. In this vein, municipal governments in Mexico have used insurance to finance disaster contingency while the World Food Program has insured a portion of its emergency assistance to Ethiopia. Humanitarian organizations and NGOs may also seek insurance in this manner.
Author: Stephen Jewson
Publisher: Cambridge University Press
ISBN: 1139444514
Category : Business & Economics
Languages : en
Pages : 393
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Book Description
Originally published in 2005, Weather Derivative Valuation covers all the meteorological, statistical, financial and mathematical issues that arise in the pricing and risk management of weather derivatives. There are chapters on meteorological data and data cleaning, the modelling and pricing of single weather derivatives, the modelling and valuation of portfolios, the use of weather and seasonal forecasts in the pricing of weather derivatives, arbitrage pricing for weather derivatives, risk management, and the modelling of temperature, wind and precipitation. Specific issues covered in detail include the analysis of uncertainty in weather derivative pricing, time-series modelling of daily temperatures, the creation and use of probabilistic meteorological forecasts and the derivation of the weather derivative version of the Black-Scholes equation of mathematical finance. Written by consultants who work within the weather derivative industry, this book is packed with practical information and theoretical insight into the world of weather derivative pricing.
Author: Larsen, Anna Folke
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 52
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Book Description
Height-for-age z-scores (HAZs) and stunting status (HAZ<−2) are widely used to measure child nutrition and population health. However, accurate measurement of age is nontrivial in populations with low levels of literacy and numeracy, limited use of formal birth records, and weak cultural norms surrounding birthdays and calendar use. In this paper we use Demographic and Health Surveys data from 62 countries over the period 1990–2014 to describe two statistical artifacts indicative of misreporting of age. The first artifact consists of lower HAZs for children reported to be born earlier in each calendar year (resulting in implausibly large HAZ gaps between January- and December-born children), which is consistent with some degree of randomness in month of birth reporting. The second artifact consists of lower HAZs for children with a reported age just below a round age (and hence implausibly large HAZ gaps between children with reported ages just below and just above round ages), which is consistent with survey respondents rounding ages down more than they round ages up. Using simulations, we show how these forms of misreporting child age can replicate observed patterns in the data, and that they have small impacts on estimated rates of stunting but important implications for research that relies on birth timing to identify exposure to various risks, particularly seasonal shocks. Moreover, the misreporting we identify differs from conventional age-heaping concerns, implying that the metrics described above could constitute useful markers of measurement error in nutrition surveys. Future research should also investigate ways to reduce these errors.
Author: Ambler, Kate
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 36
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Book Description
Participation in household decisions and control over assets are often used as indicators of bargaining power. Yet spouses do not necessarily provide the same answers to questions about these topics. We examine differences in spouses’ answers to questions regarding who participates in decisions about household activities, who owns assets, and who decides to purchase assets. Disagreement is substantial and systematic, with women more likely to report joint ownership or decision making and men more likely to report sole male ownership or decision making. Analysis of correlations between agreement and women’s well-being finds that agreement on joint decision making/ownership is generally positively associated with beneficial outcomes for women compared with agreement on sole male decision making/ownership. Cases of disagreement where women recognize their involvement but men do not are also positively associated with good outcomes for women, but often to a lesser extent than when men agree that women are involved.
Author: Roman Marco Hohl
Publisher: John Wiley & Sons
ISBN: 1119345634
Category : Business & Economics
Languages : en
Pages : 440
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Book Description
Gain a holistic view of agricultural (re)insurance and capital market risk transfer Increasing agricultural production and food security remain key challenges for mankind. In order to meet global food demand, the Food and Agriculture Organisation estimates that production has to increase by 50% by 2050 and requires large investments. Agricultural insurance and financial instruments have been an integral part to advancing productivity and are becoming more important in increasingly globalized and specialized agricultural supply chains in the wake of potentially more frequent and severe natural disasters in today’s key producing markets. Underwriting, pricing and transferring agricultural risks is complex and requires a solid understanding of the production system, exposure, perils and the most suitable products, which vastly differ among developed and developing markets. In the last decade, new insurance schemes in emerging agricultural markets have greatly contributed to the large growth of the industry from a premium volume of US$10.1 billion (2006) to US$30.7 billion (2017). This growth is bound to continue as insurance penetration and exposure increase and new schemes are being developed. Agricultural (re)insurance has become a cornerstone of sovereign disaster risk financing frameworks. Agricultural Risk Transfer introduces the main concepts of agricultural (re)insurance and capital market risk transfer that are discussed through industry case studies. It also discusses best industry practices for all main insurance products for crop, livestock, aquaculture and forestry risks including risk assessment, underwriting, pricing, modelling and loss adjustment. Describes agricultural production risks and risk management approaches Covers risk transfer of production and financial risks through insurance and financial instruments Introduces modelling concepts for the main perils and key data sources that support risk transfer through indemnity- and index-based products Describes risk pricing and underwriting approaches for crop, livestock, aquaculture and forestry exposure in developed and developing agricultural systems Become familiar with risk transfer concepts to reinsurance and capital markets Get to know the current market landscape and main risk transfer products for individual producers, agribusinesses and governments through theory and comprehensive industry case studies Through Agricultural Risk Transfer, you’ll gain a holistic view of agricultural (re)insurance and capital market solutions which will support better underwriting, more structured product development and improved risk transfer.
Author: Antonis Alexandridis K.
Publisher: Springer Science & Business Media
ISBN: 1461460719
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to minimize risk associated with adverse or unexpected weather conditions. Just as traditional contingent claims, a weather derivative has an underlying measure, such as: rainfall, wind, snow or temperature. Nearly $1 trillion of the U.S. economy is directly exposed to weather-related risk. More precisely, almost 30% of the U.S. economy and 70% of U.S. companies are affected by weather. The purpose of this monograph is to conduct an in-depth analysis of financial products that are traded in the weather market. Presenting a pricing and modeling approach for weather derivatives written on various underlying weather variables will help students, researchers, and industry professionals accurately price weather derivatives, and will provide strategies for effectively hedging against weather-related risk. This book will link the mathematical aspects of the modeling procedure of weather variables to the financial markets and the pricing of weather derivatives. Very little has been published in the area of weather risk, and this volume will appeal to graduate-level students and researchers studying financial mathematics, risk management, or energy finance, in addition to investors and professionals within the financial services industry.
Author: Intergovernmental Panel on Climate Change (IPCC)
Publisher: Cambridge University Press
ISBN: 1009178466
Category : Science
Languages : en
Pages : 1807
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Book Description
The Intergovernmental Panel on Climate Change (IPCC) is the leading international body for assessing the science related to climate change. It provides policymakers with regular assessments of the scientific basis of human-induced climate change, its impacts and future risks, and options for adaptation and mitigation. This IPCC Special Report on the Ocean and Cryosphere in a Changing Climate is the most comprehensive and up-to-date assessment of the observed and projected changes to the ocean and cryosphere and their associated impacts and risks, with a focus on resilience, risk management response options, and adaptation measures, considering both their potential and limitations. It brings together knowledge on physical and biogeochemical changes, the interplay with ecosystem changes, and the implications for human communities. It serves policymakers, decision makers, stakeholders, and all interested parties with unbiased, up-to-date, policy-relevant information. This title is also available as Open Access on Cambridge Core.
