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Book An Economic Analysis of Farm Revenue Insurance

Download or read book An Economic Analysis of Farm Revenue Insurance written by David Dale Trechter and published by . This book was released on 1984 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book An Economic Analysis of U S Farm Programs Including Senate and House Farm Bills on Representative Farms

Download or read book An Economic Analysis of U S Farm Programs Including Senate and House Farm Bills on Representative Farms written by George Michael Knapek and published by . This book was released on 2013 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agricultural policy continues to play a large role in risk reduction for agricultural producers in the United States. However, current budget deficits and growing national debt has many policy makers looking for ways to change the farm safety net. The interactions of current and new policy tools including crop insurance and representative farms were examined in a simulation model for four representative farms. Various outcomes were examined with attention primarily focused on (1) magnitude and frequency of farm program payments, (2) government costs and farmer return on insurance premiums paid, (3) coefficient of variation of farm revenue and probability of negative ending cash, and (4) Stochastic Efficiency with Respect to a Function (SERF) analysis. Results indicated that Supplemental Coverage Option (SCO) and Stacked Income Protection Plan (STAX) programs provide high farmer returns and positive mean payments. However, SCO, STAX, and crop insurance provided lower levels of protection when both the base and harvest price decline by the same amount. Overall, the House farm bill was preferred by all four farms for every scenario. Additionally, the results for Alternative 4, which examined different insurance coverage levels, showed that it was possible for a representative farm to lower its insurance coverage and improve its financial position. The results indicate how farm programs cover various types of potential losses faced by producer which makes the results meaningful to both producers and policy makers alike. The electronic version of this dissertation is accessible from http://hdl.handle.net/1969.1/149555

Book Farm Revenue Insurance

Download or read book Farm Revenue Insurance written by James G. Vertrees and published by . This book was released on 1983 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Economics of Crop Insurance and Disaster Aid

Download or read book The Economics of Crop Insurance and Disaster Aid written by Barry K. Goodwin and published by American Enterprise Institute. This book was released on 1995 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Book Economics of Agricultural Crop Insurance Theory and Evidence

Download or read book Economics of Agricultural Crop Insurance Theory and Evidence written by Darrell L. Hueth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Book An Economic Analysis of Adjusted Gross Revenue Lite Insurance on Farm Income Variability for Southeast Kansas Farms

Download or read book An Economic Analysis of Adjusted Gross Revenue Lite Insurance on Farm Income Variability for Southeast Kansas Farms written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's production agricultural sector, managing risk is essential to insuring the economic well being and sustainability of successful enterprises. Considering the inherent risks present in today's agricultural arena, risk management has become the central focus of discussions for policy makers and producers alike. Therefore the objective of this research paper is to examine the impact a whole-farm adjusted gross revenue insurance risk management program (AGR-Lite) has on reducing farm income variability using historical farm level data for Southeast Kansas farms. A panel data set of actual farm level income data was compiled to evaluate the impact of AGR-Lite on farm income variability for 219 Southeast Kansas farms. Although actual income tax records were not available annual data over the period 1993 to 2005 from the Kansas Farm Management Association was used to reproduce the essential information a farm manager would need from IRS form 1040 schedule F and inventory records to purchase AGR-Lite (Langemeier, 2003). Income distributions for each farm from 1999 to 2005 were calculated for two strategies; the farm manager did not insure and the manager insured each year using AGR-Lite as a stand-alone product. The AGR-Lite insurance strategy assumed a 75% coverage level and 90% payment rate. The income distributions were compared using three premium scenarios. In general, the results of this study reveal participation in the AGR-Lite program, in most instances, reduced standard deviation, Coefficient of Variation (CV), and Downside Risk (DR). Additionally average minimums and Certainty Equivalents (CE) were increased with the product. The following results reflect application of Actuarially Fair Average Rate for farms with Indemnities (AFARI), which is believed to reflect actual market performance. Additionally the following reflects results using Net Farm Income (NFI). Results reveal that purchasing AGR-Lite reduced standard deviations 7.01%, 11.34%, 0.29%, and 2.53% for total, crop, livestock, and dairy farms assuming AFARI. However beef farms were the lone category to sustain a 0.81% standard deviation increase. Despite reductions in absolute variability, relative risk (CV) increased 18.94%, 17.12%, 53.84%, and 3.19% for total, livestock, beef, and dairy. Crop farms were the only category to generate a CV reduction (9.52%). Under AFARI crop farms generated the largest minimum increase, reducing downside risk, by 69.97%. For total and dairy farm categories average minimums increased 62.93% and 0.60%. The remaining farm categories, livestock and beef, yielded 65.07% and 57.03% reductions to average minimum.

Book A Comparison of the Economic Profitability of Specified Risk Management Alternatives for Intermountain West Farmers

Download or read book A Comparison of the Economic Profitability of Specified Risk Management Alternatives for Intermountain West Farmers written by Cody Dean Bingham and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this research is to provide quantitative and limited qualitative analysis for the United States Intermountain West on the economic effectiveness of risk management alternatives in an agricultural operation. This research is not meant to be an exhaustive comparison of every potential combination of alternatives and risk scenarios. Instead, specific parameters such as farm size, crops grown, risk attitudes and risk management strategies are set to guide the research and offer a basis of comparison. This research evaluates several levels of coverage using Multiple Peril Crop Insurance, Crop Revenue Coverage Insurance, Adjusted Gross Revenue - Lite Insurance and a limited interaction of the futures market. Microsoft Excel and the add-in Simetar was used to perform the quantitative analysis. A set of spreadsheets were created to allow a variety of data to be easily input and manipulated. The values used in this research were based on the 2002 Census of Agriculture to create a "typical" farm considered in Box Elder County, Utah. The results generated were sorted and ranked according to four decision criteria in relation to the net income observed in each simulated scenario. These include: the probability that net income will exceed $0; a maxi-min; a maxi-max; and the maximum positive net income at a probability of occurrence of 0.5, resembling a Safety-First criterion. The later three decision criterion used correspond to risk attitudes that may be possessed by a producer: risk adverse, risk preferring or seeking, and risk neutral respectively. The quantitatively "best" observed results were then qualitatively compared to the next "best" result. In general the conclusion is made that some strategy is better than no strategy and the "best" risk management strategy is one compatible with the risk attitude of the producer and the parameters of the farm in consideration. There is no single strategy for all decision criterions that consistently outperforms all other strategies considered in this research.

Book An Economic Analysis of Alternative Farm Organizations on an Experimental Farm Management Unit in Southeast Georgia

Download or read book An Economic Analysis of Alternative Farm Organizations on an Experimental Farm Management Unit in Southeast Georgia written by Charles Eugene Perry and published by . This book was released on 1961 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Crop Insurance in a Political Economy

Download or read book Crop Insurance in a Political Economy written by and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lawmakers often subsidize farmers in times of financial distress. This article models this political impulse as a constraint on government farm policy, describing how ex ante government farm insurance can deter ex post“disaster relief” and improve production incentives by countering the moral hazard that otherwise prevails. Absent ex ante government policy, ex post relief takes the form of revenue insurance, which prompts excessive entry into farm production and under-production by operating farmers. Ex ante government policy can raise economic and political welfare by buying out low productivity farmers and offering profitable farmers a combination of revenue insurance, price supports, and a program participation fee.

Book Risk Analysis for Agricultural Production Firms

Download or read book Risk Analysis for Agricultural Production Firms written by and published by . This book was released on 1985 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Economic Analysis of Alternative Farm Bill Proposals

Download or read book Economic Analysis of Alternative Farm Bill Proposals written by Richard David Taylor and published by . This book was released on 2001 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: