In this paper, a dynamic optimization model was developed to simulate how farm-level realized price and profitability respond to yield change which was induced by climate change. Producers' acreage response was included in the dynamic model considering crop rotation effect. In the crop rotation...

We study the difference in the volatility dynamics of CBOT corn, soybeans, and oatsfutures prices across different delivery horizons via the smoothed Bayesian estimatorof Karali, Dorfman, and Thurman (2010). We show that the futures price volatilitiesin these markets are affected by the...

We analyze the link between large and destructive floods and armed conflict in 117 countries between 1985 and 2009 employing flood-induced migration as a potential transmission channel. We use rainfall as an instrument for flood-induced migration and employ a two step procedure (Rivers and Vuong...

Futures markets have two main goals: price discovery and risk management. Because management decisions often have to be made on a time horizon longer than the time until expiration of the nearby futures contract, it is important to determine how well distant-delivery futures contracts are able...

We study the difference in the volatility dynamics of CBOT corn, soybeans, and oats futures prices across different delivery horizons via the smoothed Bayesian estimator of Karali, Dorfman, and Thurman (2010). We show that the futures price volatilities in these markets are affected by the...

Crop insurance is an area of federal agricultural policy that has been a source of continual calls for reform and improvement, yet there are a limited number of empirical studies examining farmers' insurance purchase decisions. As far as we are aware, this study is the first to utilize farm...

This article extends the literature on economic valuation of public interventions that reduce environmental risk. We consider the case where risk-reducing interventions have different characteristics than the risk proxies used in hedonic regressions. We then demonstrate the importance of these...