Systemic Risk in Wheat Yields

Ashley Hungerford

No 169376, 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota from Agricultural and Applied Economics Association

Abstract: In 2011 and 2012 severe droughts caused extensive damage in crops throughout the Midwest. These conditions combined with concerns for climate change have led to a growing focus on risk management in agriculture. The increasing emphasis on risk management is reflected in the 2014 Farm Bill, which replaces direct payments with shallow loss programs. For this paper we turn our attention to winter wheat production in Kansas and explore the ratings of the crop insurance policies as well as predicted payouts from the new Agricultural Risk Coverage program established under the 2014 Farm Bill. Using spatial models we simulate yields of non-irrigated winter wheat and irrigated winter wheat to estimate crop insurance premium rates as well as payouts from the Agricultural Risk Coverage program.

Keywords: Crop Production/Industries; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 48
Date: 2014-05-21
New Economics Papers: this item is included in nep-agr, nep-ias and nep-rmg
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/169376/files/HungerfordAAEA2014wC.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea14:169376

DOI: 10.22004/ag.econ.169376

Access Statistics for this paper

More papers in 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().