Farm Business Survival under Extreme Weather Risks

Schickele, Rainer

doi:10.2307/1233760

Cited by 5 publications

(1 citation statement)

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“…The use of longitudinal data to analyze the effect of weather conditions on agricultural outcomes has a very long tradition in agricultural economics (Hodges, 1931;Schickele, 1949;Stallings, 1960;Morgan, 1961;Stallings, 1961;Shaw, 1964;Oury, 1965;Black and Thompson, 1978). This early literature was not initially concerned with climate change, but with forecasting crop production to anticipate price swings, and understanding the nature of agricultural production risk.…”

Section: Panel Profit and Productivity Approachesmentioning

confidence: 99%

Climate, Agriculture and Food

Ortiz‐Bobea¹

2021

Preprint

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Agriculture is arguably the most climate-sensitive sector of the economy. Growing concerns about anthropogenic climate change have increased research interest in assessing its potential impact on the sector and in identifying policies and adaptation strategies to help the sector cope with a changing climate. This chapter provides an overview of recent advancements in the analysis of climate change impacts and adaptation in agriculture with an emphasis on methods. The chapter provides an overview of recent research efforts addressing key conceptual and empirical challenges. The chapter also discusses practical matters about conducting research in this area and provides reproducible R code to perform common tasks of data preparation and model estimation in this literature. The chapter provides a hands-on introduction to new researchers in this area.

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Section: Panel Profit and Productivity Approachesmentioning

confidence: 99%

Climate, Agriculture and Food

Ortiz‐Bobea¹

2021

Preprint

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Farm Characteristics and Business Risk in Production Agriculture

Schurle

Tholstrup

1989

Applied Eco Perspectives Pol

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This article uses historical farm level data to investigate relationships between business risk and farm characteristics. Farm characteristics examined are the enterprise mix, farm size, location of the farm, age of the operator, financial obligation of the farm, machinery investment, government program payments and a measure of returns to the operation. Many of these variables are significantly related to business risk, which suggests several possibilities for future research.

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U.S. Land Policy, Property Rights, and the Dust Bowl of the 1930s

Libecap

Hansen

2001

SSRN Journal

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In the morning the dust hung like fog, and the sun was as red as ripe new blood. All day the dust sifted down from the sky, and the next day it sifted down. An even blanket covered the earth. It settled on the corn, piled up on the tops of the fence posts, piled up on the wires; it settled on roofs, blanketed the weeds and trees." John Steinbeck, The Grapes of Wrath (1939, 6) I. Introduction. The process of assigning property rights to land in the American Great Plains resulted in farms that were too small to be economically viable. Under the Homestead Act, hundreds of thousands of 160 to 320-acre farms were founded between 1880 and 1920. These farms were more likely to fail during drought, and because of the cultivation practices used on them, we hypothesize that small farms were principal contributors to the region's most significant environmental crisis, the Dust Bowl of the 1930s. Drought conditions returned to the Great Plains in the late 1950s and 1970s, yet there was no return to the Dust Bowl. New farming techniques and larger farms likely were major reasons. 1 The path dependence resulting from the initial assignment of property rights on the Great Plains was slow to be corrected. The transactions costs of property rights reallocation from homesteads to larger farms were high, in part due to government intervention. Local politicians sought to retain the dense, Midwest-like population that homestead settlement had fostered, and they successfully lobbied the Federal Government for subsidies to maintain small family farms. An abrupt loss of rural population was not politically acceptable. The result was a halting process of farm size adjustment between 1920 and 1982. This case illustrates the difficult environmental problems that can be raised by an inappropriate assignment of property rights. It cannot be assumed that a more efficient allocation of rights with fewer negative environmental effects will occur quickly. As Ronald Coase noted, high transactions costs can impede the

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Farm Business Survival under Extreme Weather Risks

Cited by 5 publications

References 0 publications

Climate, Agriculture and Food

Climate, Agriculture and Food

Farm Characteristics and Business Risk in Production Agriculture

U.S. Land Policy, Property Rights, and the Dust Bowl of the 1930s

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