Agricultural Risk Management Policy

Actively managing risk is a relatively new concept for many crop and livestock producers and policymakers. To address the need for information and analysis on agricultural risk management policy, CARD Director Bruce Babcock has initiated a core area of research at CARD.

CARD’s ARMP division assesses policies affecting valuation and risk management, government price support and disaster relief programs, and agricultural insurance and alternatives.

Papers

April 2015
Land Resilience and Tail Dependence among Crop Yield Distributions
Xiaodong Du, David A. Hennessy, Hongli Feng
[15-WP 556]
February 2014
Rationality of Choices in Subsidized Crop Insurance Markets
Xiaodong Du, Hongli Feng, David A. Hennessy
[14-WP 545]
October 2013
February 2013
Native Grassland Conversion: the Roles of Risk Intervention and Switching Costs
Ruiqing Miao, David A. Hennessy, Hongli Feng
[13-WP 536]
August 2012
July 2012
August 2011
Price Analysis, Risk Assessment, and Insurance for Organic Crops
Ariel Singerman, Chad E. Hart, Sergio H. Lence
[11-PB 6]
April 2011
March 2011
September 2010
Investment in Cellulosic Biofuel Refineries: Do Renewable Identification Numbers Matter?
Ruiqing Miao, David A. Hennessy, Bruce A. Babcock
[10-WP 514]
August 2010
Testing Day's Conjecture that More Nitrogen Decreases Crop Yield Skewness
Xiaodong Du, David A. Hennessy, Cindy L. Yu
[10-WP 511]
May 2010
March 2010
November 2009
October 2009
July 2009
June 2008
Insuring Against Losses from Transgenic Contamination: The Case of Pharmaceutical Maize
David Ripplinger, Dermot J. Hayes, A. Susana Goggi, Kendall Lamkey
[08-WP 470]
March 2008
Index Insurance, Probabilistic Climate Forecasts, and Production
Miguel Carriquiry, Daniel E. Osgood
[08-WP 465]
November 2007
October 2007
Determinants of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory
Xiaodong Du, David A. Hennessy, William M. Edwards
[07-WP 454]
July 2007
January 2007
November 2005
April 2005
March 2005
Using a Farmer's Beta for Improved Estimation of Actual Production History (APH) Yields
Miguel Carriquiry, Bruce A. Babcock, Chad E. Hart
[05-WP 387]
February 2005
Evaluating the Saskatchewan Short-Term Hog Loan Program
Donald Lien, David A. Hennessy
[05-WP 385]
July 2004
April 2004
Insuring Uncertainty in Value-Added Agriculture: Ethanol Production
Nick D. Paulson, Bruce A. Babcock, Chad E. Hart, Dermot J. Hayes
[04-WP 360]
July 2003
Insuring Eggs in Baskets
Chad E. Hart, Dermot J. Hayes, Bruce A. Babcock
[03-WP 339]
June 2003
Ledger Provision in Hog Marketing Contracts
David A. Hennessy, Donald Lien
[03-WP 336]
July 2002
Option Pricing on Renewable Commodity Markets
Sergio H. Lence, Dermot J. Hayes
[02-WP 309]
April 2002
Crop Insurance Rates and the Laws of Probability
Bruce A. Babcock, Chad E. Hart, Dermot J. Hayes
[02-WP 298]
September 2001
March 2001
Systemic Risk in U.S. Crop and Revenue Insurance Programs
Chuck Mason, Dermot J. Hayes, Sergio H. Lence
[01-WP 266]
February 2001
January 2001
Livestock Revenue Insurance
Chad E. Hart, Bruce A. Babcock, Dermot J. Hayes
[99-WP 224]
(Revised)
December 2000
August 2000
Time for a New Farmer-Owned Reserve?
Chad E. Hart, Bruce A. Babcock
[00-BP 31]
June 2000
Economic Evaluation of Bt Corn Refuge Insurance
Paul D. Mitchell, Terrance M. Hurley, Richard L. Hellmich
[00-WP 243]
March 2000
Farm-Level Analysis of Risk Management Proposals
Bruce A. Babcock, Chad E. Hart, Gary M. Adams, Patrick C. Westhoff
[00-WP 238]
May 1999
Reinsuring Group Revenue Insurance with Exchange-Provided Revenue Contracts
Bruce A. Babcock, Steven L. Griffin, Dermot J. Hayes
[99-WP 212]
April 1999
February 1999
Whole-Farm Revenue Insurance for Crop and Livestock Producers
Bruce A. Babcock, Dermot J. Hayes
[99-BP 22]
January 1999
December 1998
Are Loan Deficiency Payments Too Low In Iowa?
Bruce A. Babcock, Dermot J. Hayes, Phillip Kaus
[98-BP 20]
September 1998
Loan Deficiency Payments or the Loan Program?
Dermot J. Hayes, Bruce A. Babcock
[98-BP 19]
June 1997
Budgetary and Producer Welfare Effects of Revenue Insurance, The
David A. Hennessy, Bruce A. Babcock, Dermot J. Hayes
[97-WP 180]
July 1995
February 1995
Budgetary and Resource Allocation Effects of Revenue Assurance
David A. Hennessy, Bruce A. Babcock, Dermot J. Hayes
[95-WP 130]
Budgetary and Resource Allocation Effects of Revenue Assurance: Summary of Results, The
David A. Hennessy, Bruce A. Babcock, Dermot J. Hayes
[95-BP 7]
December 1994
Input Demand Under Yield and Revenue Insurance
Bruce A. Babcock, Joseph A. Herriges
[94-WP 127]
March 1994
August 1993
Multiperiod Production with Forward and Options Markets
Sergio H. Lence, Yong Sakong, Dermot J. Hayes
[93-WP 112]
June 1993
Forward-Looking Competitive Firm Under Uncertainty, The
Sergio H. Lence, Dermot J. Hayes
[93-WP 111]
Empirical Minimum Variance Hedge, The
Sergio H. Lence, Dermot J. Hayes
[93-WP 109]
Optimal Hedging under Forward-Looking Behavior
Sergio H. Lence, Dermot J. Hayes
[93-WP 108]
Estimation Risk when Theory Meets Reality
Sergio H. Lence, Dermot J. Hayes
[93-WP 107]
Short-Run Behavior of Forward-Looking Firms, The
Sergio H. Lence, Dermot J. Hayes, William H. Meyers
[93-WP 106]
April 1992
Endogenous Risk and Environmental Policy
Jason F. Shogren, Thomas D. Crocker
[92-WP 91]
January 1992
Can Options Be Used as a Hedging Instrument?
Yong Sakong, Dermot J. Hayes, Arne Hallam
[92-WP 85]
May 1990
Risk, Self-Protection, and Ex Ante Economic Value
Jason F. Shogren, Thomas D. Crocker
[90-WP 57]
March 1990
December 1989
Storage Subsidies and Supply Response
E. Kwan Choi, William H. Meyers
[89-WP 47]
September 1987
June 1987
Input Price Uncertainty and Factor Demand
S. Devadoss, E. Kwan Choi
[87-WP 25]
Farm Financial Conditions in Agriculture within Farm Credit System Districts
Robert W. Jolly, Damona G. Doye, Darrel Choat
[87-SR 35]
May 1987
Agricultural Restructuring Requirements by Farm Credit System District
Damona G. Doye, Robert W. Jolly, Darrel Choat
[87-SR 34]

Presentations

February 2016
Theoretical Production Restrictions and Measures of Technical Change in U.S. Agriculture 0.94 MB
Alejandro Plastina and Sergio Lence
Presented at the NC-1034 Annual Meeting, Tampa, Florida
May 2011
Feeding Frenzy: Managing High Input Costs 0.10 MB
Bruce A. Babcock
National Dairy Producers Conference, Omaha, Nebraska
February 2009
The ACRE Decision 0.69 MB
Bruce A. Babcock
Presented at the North Dakota Corn Growers Association Annual Convention. Fargo, North Dakota
November 2008
Outlook for Agriculture: Does a Downturn Loom? 0.53 MB
Bruce A. Babcock
Presented at the Pro-Ag Meeting in Fort Dodge, Iowa, November 12
July 2008
Hog Feed Price Protection 0.81 MB
Chad E. Hart
Presented at the "New Dimensions in Livestock Risk" conference, Iowa Farm Bureau, Ames, IA
Feed Costs: Longer Term 0.92 MB
Chad E. Hart
Presented at the "New Dimensions in Livestock Risk" conference, Iowa Farm Bureau, Ames, IA
June 2008
ACRE 0.46 MB
Chad E. Hart
Presented at the State FSA Office, Urbandale, IA
The 2008 Farm Bill 0.55 MB
Chad E. Hart
Presented for Ag Credit School, Iowa State University
Risk Factors in Agriculture 1.28 MB
Chad E. Hart
Presented for Ag Credit School, Iowa State University
October 2007
The 2008 Farm Bill 1.37 MB
Chad E. Hart
Presented at ISU Farm Management Field Specialist In-Service, Ames, Iowa
September 2007
Livestock Gross Margin (LGM) for Dairy 0.23 MB
Bruce A. Babcock
Presented at an in-service training session for crop insurance agents, University of Maryland, Bowie, MD
June 2007
An Overview of Federal Farm Bill Titles 0.79 MB
Chad E. Hart
Presented at ISU Agriculture and Natural Resources Lunch and Learn, Ames, IA
May 2007
Proposals for the 2008 Farm Bill 0.69 MB
Chad E. Hart
Presented at an ISU Extension Specialist Meeting, Ames, IA
March 2007
Proposals for the 2008 Farm Bill 0.62 MB
Chad E. Hart
Presented at the Iowa NAMA meeting, Johnston, IA
February 2007
Revenue-Based Income Safety Nets 0.56 MB
Chad E. Hart
Presented at the Iowa Farm Bureau Policy Information Conference, Des Moines, IA
November 2006
U.S. Farm Policy Choices in 2007 0.30 MB
Bruce A. Babcock
Presented at the Outlook Conference 2006, Toronto, Ontario, Canada
Comparing Insurance Units for Corn and Soybeans 0.73 MB
Chad E. Hart
Presented at "Insuring Iowa's Agriculture," Extension continuing education workshop
September 2006
Statement Before the House Subcommittee on General Farm Commodities and Risk Management 0.21 MB
Bruce A. Babcock
Presented at a hearing to review federal farm policy
August 2006
Weaving the Next Agricultural Safety Net 0.35 MB
Bruce A. Babcock
Presented at the Ag Summit, Springfield, IL
April 2006
Crop Insurance within the World Trade Organization 0.10 MB
Chad E. Hart
Statement before the Subcommittee on General Farm Commodities and Risk Management, U.S. House Committee on Agriculture, on crop insurance within the WTO agricultural agreement
February 2006
Corn and Soybean Issues for 2006 0.24 MB
Bruce A. Babcock
Presented at the Bremer County Corn and Soybean Association Annual Meetings
January 2006
A New Approach to Providing an Agricultural Safety Net 0.55 MB
Bruce A. Babcock
Presented at Informa Economics Roundtable Arlington, VA
The 2007 Farm Bill: More of the Same or a New Path? 0.31 MB
Bruce A. Babcock
Presented at the Iowa Corn Growers Meeting in Missouri Valley
October 2005
A New Approach to Providing an Agricultural Safety Net 2.49 MB
Bruce A. Babcock
Presented at "21st Century Farm Policy: Challenges and Opportunities" conference, Fargo, ND
July 2005
Are We Where We Want to Be with Commodity Programs? 0.85 MB
Bruce A. Babcock
Presented at the ISU Agricultural Policy Summit
Potential Influence of Commodity Policy on Iowa Agriculture 0.12 MB
Bruce A. Babcock
Presented at the ISU Agricultural Policy Summit
June 2005
Statement before the U.S. Senate Committee on Agriculture, Nutrition and Forestry 0.04 MB
Bruce A. Babcock
Presented at a Hearing to review the Agricultural Risk Protection Act of 2000
March 2005
Integrating Soil and Water Conservation into the Farm Bill 0.92 MB
Bruce A. Babcock
Presented at the ISU Extension "Ag and the Environment" conference, Scheman Building, Iowa State University
Effects of Crop Insurance and Government Payments on Annual Financial Risk 0.46 MB
Bruce A. Babcock
Presented to the Poweshiek Marketing Club
February 2005
Effects of Crop Insurance and Government Payments on Annual Financial Risk 0.29 MB
Bruce A. Babcock
Presented to the Boone County Marketing Club
November 2004
Global Policies and Risk Management 0.19 MB
Bruce A. Babcock
Presented at Pro-Ag Seminar, Waterloo, IA, and at Pro-Ag Seminar, Amana Colonies
August 2004
Risk-Free Farming? Risk-Return Analysis of Soybean Farming under the 2002 Farm Bill 0.65 MB
Bruce A. Babcock
Presented at the Midwest Soybeans Conference in Des Moines
March 2004
Economics of Risk Management in Agriculture 0.63 MB
Bruce A. Babcock
Presented to Coldiretti, Italy's major agricultural producer's association, at a Risk Management in Agriculture conference
February 2004
Implications of Extending Crop Insurance to Livestock 0.20 MB
Bruce A. Babcock
Presented at USDA's Agricultural Outlook Forum
September 2003
Federal Crop Insurance Migrates to Livestock
Bruce A. Babcock
Presented at the Midwest Pork Conference in Indianapolis
July 2003
The Crop Producer's Risk Management Decisions 1.53 MB
Bruce A. Babcock
Presented at Pioneer Hi-Bred Corporation employees briefing
November 2002
CRC vs RA: A Comparison
Bruce A. Babcock
Presented at INSURING IOWA'S AGRICULTURE: New Products and New Programs
March 2001
Crop Insurance, Counter-Cyclical Policies, and the WTO: Implications for Agricultural Policy
Bruce A. Babcock
Presented to Italy's National Institute of Agricultural Economics
February 2001
What Crop Insurance is Best for You?
Bruce A. Babcock
Presented to Northwest Farm Managers Assoc. Annual Meeting
January 2001
Livestock Revenue Insurance
Bruce A. Babcock
Presented on ICN