The federal crop insurance program covered more than 110 billion dollars in total liability in 2018. The program consists of policies across a wide range of crops, plans, and locations. Weather and other latent variables induce dependence among components of the portfolio. Computing...

The federal crop insurance program covered more than 110 billion dollars in total liability in 2018. The program consists of policies across a wide range of crops, plans, and locations. Weather and other latent variables induce dependence among components of the portfolio. Computing...

The U.S. government has been extensively involved in providing income support and risk management policies for U.S. farmers over the last 65 years. Risk management policies have included crop insurance, disaster relief, and in recent years, revenue insurance. Recent policy changes signaled an...

The objective of this study is to evaluate the risk associated with major agricultural commodity yields in the United States. We are particularly concerned with the nonstationary nature of the yield distribution, which arises primarily as a result of technological progress and changing...

We review the implications of the 2007 Farm Bill for the risk management dimensions of U.S. agriculture and policy. Legislative proposals suggest significant changes in risk management policy, including the introduction of state or national revenue insurance. We also pursue an empirical analysis...