文章基本信息

标题：Risk-Reducing Effectiveness of Revenue versus Yield Insurance in the Presence of Government Payments
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作者：Vedenov, Dmitry V. ; Power, Gabriel J.
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2008
页码：443-459
出版社：Journal of Agribusiness
摘要：Government farm support programs such as Loan Deficiency Payments (LDP) and Counter-Cyclical Payments (CCP) have payoff structures that effectively make them costless price insurance instruments. A combination of these payments with yield insurance may provide a viable alternative to revenue insurance. This paper finds that, contrary to expectations, the revenue product analyzed is uniformly superior to yield insurance under both current (2002) and proposed (2008) Farm Bill structures of government payments. Given minor adjustments, however, yield insurance combined with government payments can provide more effective risk management than revenue insurance in production areas with low yield–price correlation.
关键词：copulas;crop insurance;farm bill;government payments