Revenue Insurance for Georgia and South Carolina Peaches

Miller, Stephen E.; Kahl, Kandice H.; Rathwell, P. James

doi:10.1017/s1074070800027875

Cited by 7 publications

(3 citation statements)

References 6 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…It also incorporates the correlation of production aid, whose magnitude varies with each EU member state total production, and farmers' yields. This allows for detailed policy comparisons at a very disaggregate level, and it also relaxes restrictive assumptions commonly found in the literature, that could affect the reliability of the premiums calculated on the basis of such suppositions (Hennessy et al, 1997;Calkins et al, 1997;Miller et al, 2000).…”

Section: Objectivesmentioning

confidence: 88%

“…This indicates that revenue insurance has some properties that can be assimilated to the use of derivative markets, although it could constitute a more efficient tool for risk reduction by also protecting against drops in yields. Miller et al (2000) find no clear advantages of revenue insurance over yield insurance in the case of peach growers because of the low correlation between yields and prices. Stokes et al (1997) show that insuring for the whole farm's revenues is more efficient than insuring each crop by a different revenue insurance policy.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector

Bielza

Garrido²,

Sumpsi³

2004

reae

View full text Add to dashboard Cite

Various forms of revenue insurance have been applied in Canada and in the US with relative success. In this paper different combinations of traditional agricultural policies and revenue and yield insurance are analysed for the Spanish olive oil sector. Taking a database containing about half million Spanish olive growers during 8 campaigns, five possible policies are studied and the results are examined according to different criteria including average revenue and its variability, growers utility gains, taxpayers cost and the transfer efficiency of support. The policies analysed are: (1) non-intervention; (2) the policy currently in force in Spain that combines a production aid with a yield insurance; (3) a revenue insurance, only; (4) revenue insurance combined with a production aid; and (5) an aid per tree in combination with revenue insurance. The methodology is based on Monte-Carlo simulations performed on about 100 groups of growers that have been grouped according to their expected yields and variability. Assuming and estimating olive oil price and yields correlations for each group of growers, the analysis allows for consistent policy comparisons at a very disaggregate level. Using the results for all analysed groups, policies are ranked based on the above criteria at the provincial and national levels. Results show that the current regime of EU production aids of olive oil eliminates the advantage of extending the current yield insurance to a revenue insurance. It is also shown that the level of support delivered by production aids cannot be reached with revenue insurance even with completely subsidised premiums. Finally, it is shown that the policy that combines tree aids with revenue insurance exhibits good results for all examining criteria.

show abstract

Section: Objectivesmentioning

confidence: 88%

Section: Introductionmentioning

confidence: 99%

Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector

Bielza

Garrido²,

Sumpsi³

2004

reae

View full text Add to dashboard Cite

show abstract

“…Sin embargo, Miller et al, (2000) no hallan ventajas claras en un seguro de ingresos ofrecido al sector melocotonero en EEUU, debido a la escasa correlación entre rendimientos y precios.…”

Section: Un Breve Balance Sobre Las Experiencias De Seguros De Ingresosunclassified

El seguro de ingresos como instrumento de estabilización de las rentas de los agricultores: Aplicación al sector olivarero español

Díaz-Caneja

Colmenero

Viñas

2011

EARN

View full text Add to dashboard Cite

This paper analises a set of revenue stabilisation policies for Spanish olive oil growers, including yield and revenue insurance schemes. In theory and under certain assumptions, revenue insurance provides cheaper revenue stabilisation than a combination of price and yield insurance. After reviewing several revenue insurance experiences, an application is developed to compare various policies that include the actual production aid, tree aid, yield insurance and revenue insurance. The comparison is made taking into account the efficacy of public expenditure’s efficiency and the risk reduction potential. Results do not back the assertion that a revenue insurance scheme would be a superior policy than the current policy, that includes a production aid and yield insurance. It is shown that revenue insurance requires less reinsurance protection than yield insurance, making it cheaper on relative terms. Lastly, the analyses at provincial level show that the results of each studied policy are sharply different based on the risks and productivity that characterise each province.

show abstract

Ranking Crop Yield Models Using Out‐of‐Sample Likelihood Functions

Norwood

Roberts

Lusk

2004

American J Agri Economics

View full text Add to dashboard Cite

There has been considerable debate regarding which probability distribution best represents crop yields. This study ranks six yield densities based on their out-of-sample forecasting performance. The forecasting ability for each density was ranked according to its likelihood function value when observed at out-of-sample observations. Results show that a semiparametric model offered by Goodwin and Ker best forecasts county average yields. Copyright 2004, Oxford University Press.

show abstract

Revenue Insurance for Georgia and South Carolina Peaches

Cited by 7 publications

References 6 publications

Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector

Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector

El seguro de ingresos como instrumento de estabilización de las rentas de los agricultores: Aplicación al sector olivarero español

Ranking Crop Yield Models Using Out‐of‐Sample Likelihood Functions

Contact Info

Product

Resources

About