Economics of Agricultural Crop Insurance: Theory and Evidence PDF Download
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Author: Darrell L. Hueth
Publisher: Springer Science & Business Media
ISBN: 9401113866
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
Government subsidized crop insurance has been used by a number of developed countries as a mechanism to reduce farm income instability by reducing yield risks. This book provides an in-depth analysis and evaluation of government provided crop insurance in developed countries. The book is organized into three sections: Part one presents background material on crop insurance programs in the U.S., Canada and selected other countries. Part two provides some analytical models of multiple peril crop insurance which suggest the possibility of modification of design which could improve performance and which explores theoretical linkages between crop insurance decisions and other producer decisions previously not analyzed. The main part of the book is Part three, where the results of a series of empirical studies using databases particularly designed to answer crop insurance questions are presented. This part of the book tests a number of the hypotheses which were raised in Parts one and two regarding reasons for the view widely held by economists that crop insurance has not functioned well.
Author: Darrell L. Hueth
Publisher: Springer Science & Business Media
ISBN: 9401113866
Category : Business & Economics
Languages : en
Pages : 385
Get Book Here
Book Description
Government subsidized crop insurance has been used by a number of developed countries as a mechanism to reduce farm income instability by reducing yield risks. This book provides an in-depth analysis and evaluation of government provided crop insurance in developed countries. The book is organized into three sections: Part one presents background material on crop insurance programs in the U.S., Canada and selected other countries. Part two provides some analytical models of multiple peril crop insurance which suggest the possibility of modification of design which could improve performance and which explores theoretical linkages between crop insurance decisions and other producer decisions previously not analyzed. The main part of the book is Part three, where the results of a series of empirical studies using databases particularly designed to answer crop insurance questions are presented. This part of the book tests a number of the hypotheses which were raised in Parts one and two regarding reasons for the view widely held by economists that crop insurance has not functioned well.
Author: Barry K. Goodwin
Publisher: American Enterprise Institute
ISBN: 9780844739083
Category : Business & Economics
Languages : en
Pages : 178
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Book Description
This study is the first to provide a comprehensive and in-depth economic analysis of the origins and consequences of U.S. crop insurance and disaster relief programs. The authors investigate the policy options for disaster assistance and crop insurance, beginning with the recognition that current policies are unsatisfactory.
Author: Warren R. Bailey
Publisher:
ISBN:
Category : Crop insurance
Languages : en
Pages : 96
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Book Description
Author: William Hobson Rowe
Publisher:
ISBN:
Category : Crop insurance
Languages : en
Pages : 28
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Book Description
Author: Lawrence Arthur Jones
Publisher:
ISBN:
Category : Crop insurance
Languages : en
Pages : 48
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Book Description
Author: Charalampos Mavroutsikos
Publisher:
ISBN: 9781392617571
Category : Crop insurance
Languages : en
Pages : 0
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Book Description
This dissertation develops a novel theoretical framework of heterogeneous producers to analyze the system-wide market and welfare effects of crop insurance and the determinants of the optimal policy design under alterative information structures and government policy objectives. The framework captures the empirically relevant differences in producer attitudes towards risk and their impact on crop insurance participation under different insurance contracts and premium subsidies. The explicit consideration of producer heterogeneity enables also the proper identification and disaggregation of the distributional impacts of crop insurance, and the evaluation of the role of multiple contracts and premium subsidies in policy design. Analytical results indicate that producer welfare gains from crop insurance increase with the level of producer risk aversion and insurance coverage. The provision of different crop insurance contracts results in a separating equilibrium, where different producer groups choose different contracts. The disaggregated welfare impacts of changes in contract availability are determined by the relative differences in premium rates and reduction in risk exposure among the insurance options. Changes in premium subsidies are shown to cause contract-specific participation and welfare changes, with asymmetric benefits for the different policy participants. Regarding the optimal policy design, the study identifies (a) the determinants of the optimal level of premium subsidies and (b) their role in coping with informational asymmetries, under different objectives and political preferences of the government. The analysis shows how premium subsidies can be utilized to induce producer behavior leading to a desired separating equilibrium and presents an alternative policy design that can more efficiently achieve the government objective of increased producer participation in crop insurance. Finally, by utilizing highly detailed crop insurance data, the study empirically tests and quantifies the system-wide effects of crop insurance, the impact of premium subsidies on participants' welfare, and identifies crop and regional differences. Empirical results are consistent with/support the theoretical findings indicating that producer benefits from crop insurance increase with the level of producer risk aversion, high coverage and regional riskiness. The change in the magnitude of premium subsidies in 2000 resulted in increased producer welfare and spatial differences in private insurers' returns.
Author: United States Department of Agriculture
Publisher: CreateSpace
ISBN: 9781515032960
Category :
Languages : en
Pages : 30
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Book Description
The first 50 years of the Federal crop insurance program were marked by low enrollment levels. To boost program participation, legislation in 1994 and 2000 increased premium subsidies. In the years since, the jump in enrollment coupled with high commodity prices caused significant increases in program costs. This report examines the effects of premium subsidies on the demand for crop insurance across major crops and production regions. Findings show that while increases in subsidies can induce farmers to enroll more land, they primarily encourage them to adopt higher levels of coverage on land already enrolled. Midwestern and wheat producers are more responsive to changes in subsidies relative to other regions and crops. Findings suggest that changes to current premium subsidies have the potential to alter producers' reliance on crop insurance to help mitigate farm risk.
Author: Richard E. Just
Publisher: Springer Science & Business Media
ISBN: 1475735839
Category : Technology & Engineering
Languages : en
Pages : 580
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Book Description
After all the research on agricultural risk to date, the treatment of risk in agricultural research is far from harmonious. Many competing risk models have been proposed. Some new methodologies are largely untested. Some of the leading empirical methodologies in agricultural economic research are poorly suited for problems with aggregate data where risk averse behavior is less likely to be important. This book is intended to (i) define the current state of the literature on agricultural risk research, (ii) provide a critical evaluation of economic risk research on agriculture to date and (iii) set a research agenda that will meet future needs and prospects. This type of research promises to become of increasing importance because agricultural policy in the United States and elsewhere has decidedly shifted from explicit income support objectives to risk-related motivations of helping farmers deal with risk. Beginning with the 1996 Farm Bill, the primary set of policy instruments from U.S. agriculture has shifted from target prices and set aside acreage to agricultural crop insurance. Because this book is intended to have specific implications for U.S. agricultural policy, it has a decidedly domestic scope, but clearly many of the issues have application abroad. For each of the papers and topics included in this volume, individuals have been selected to give the strongest and broadest possible treatment of each facet of the problem. The result is this comprehensive reference book on the economics of agricultural risk.
Author: Wolfram Schlenker
Publisher: University of Chicago Press
ISBN: 022661980X
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
Agricultural yields have increased steadily in the last half century, particularly since the Green Revolution. At the same time, inflation-adjusted agricultural commodity prices have been trending downward as increases in supply outpace the growth of demand. Recent severe weather events, biofuel mandates, and a switch toward a more meat-heavy diet in emerging economies have nevertheless boosted commodity prices. Whether this is a temporary jump or the beginning of a longer-term trend is an open question. Agricultural Productivity and Producer Behavior examines the factors contributing to the remarkably steady increase in global yields and assesses whether yield growth can continue. This research also considers whether agricultural productivity growth has been, and will be, associated with significant environmental externalities. Among the topics studied are genetically modified crops; changing climatic factors; farm production responses to government regulations including crop insurance, transport subsidies, and electricity subsidies for groundwater extraction; and the role of specific farm practices such as crop diversification, disease management, and water-saving methods. This research provides new evidence that technological as well as policy choices influence agricultural productivity.
Author: B.A. Babcock
Publisher: Springer Science & Business Media
ISBN: 9401729158
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
Risk Management and the Environment: Agriculture in Perspective is a modern academic work that seeks to bring out both to the private and the policy sectors the importance of risk management in relation to the envi ronment in agriculture, as the world moves towards freer markets. Many efforts were pooled together in making this book. Three years ago, an attempt was made by one of the editors to get a project on 'Agri cultural Risk Management and Sustainabilty' (ARMAS) funded by the European Commission. Probably deeming the proposal as prematurely novel for Europe, the Commission's screening experts abandoned its evaluation. Following that experience it became apparent that the literature on the theme ought to be strengthened and emphasized through a book by a well known publishing house. The editorial team was formed relatively quickly and an invitation to known experts in the field for contributions was issued. Subsequently, Kluwer Academic Publishers, evaluated an edited volume proposal package, and final revisions were made prior to submitting the entire manuscript for publication. We are gratefully acknowledging the moral support of several individu als as well as the patience of our publishers.
