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An adequate representation of the technological trend component of yield time series is of crucial importance for the successful design of risk management instruments. However, for many transition and developing countries, the estimation of the technological trend is complicated by the joint...

The application of yield time series in risk analysis prerequisites the estimation of technological trend which might be present in the data. In this paper, we show that in presence of highly volatile yield time series and non-constant technology, the consideration of the weather effect in the...

Risk plays an important role in agricultural decision-making, particularly in those regions that are remarkably exposed to natural hazards and underdeveloped input and output markets. This is especially true for crop production in CIS countries where many farms have to deal with low liquidity...

We analyze the current state and future requirements of an agricultural income stabilization mechanism in a transition country – namely, the crop insurance system in Kazakhstan. Three objectives will be pursued: First, factors influencing the development of the crop insurance market will be...

We evaluate yield risk reduction through weather index, area yield index and farm yield insurance contracts for wheat farms in Kazakhstan by employing data from 1980 to 2002. We use the usual mean variance (MV) approach and also a second-degree stochastic dominance (SSD) criterion. While MV is...

This volume of proceedings, available both as hard copy and pdf, is an edited compilation of selected contributions to the IAMO Forum 2007, which will be held in Halle (Saale), Germany, at the Leibniz Institute of Agricultural Development in Central and Eastern Europe from 27 to 29 June 2007. We...

The study introduces an ex-ante evaluation concept into the analysis of weather-based index insurance effectiveness. We conduct our ex ante analysis by distinguishing between two consecutive periods: the first period is used for determining insurance parameters and optimal number of insurance...