This report evaluates the 2002 farm bill and the effects of the individual programs within the bill on North Dakota net farm income. A stochastic simulation model was developed, using @Risk by Palisade. @Risk replaces the mean values for price and yield with a distribution of values for the...

Replaced with revised version of paper 07/29/10.

Rankings of different risk management portfolios including Average Crop Revenue Election (ACRE), traditional government payment programs, crop insurance and hedging in futures; and optimal choices of insurance coverage levels and hedge ratios are evaluated for a representative central Indiana...

The efficient market hypothesis would suggest that stock prices incorporate the information revealed in the public process of creating legislation as the debate occurred. Thus, there should be no abnormal returns to agribusiness stocks on key legislative dates when drafting and altering the farm...

New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed...

The lack of a safety net for farm income in the FAIR Act has become evident in recent years because of the necessity of federal legislation each year, 1998-2001, to support farm income. In recent years, U.S. agriculture has experienced a rapid loss of mid-size family farms. The number of...

This study analyzes two farm bill proposals that would replace the Federal Agricultural Improvement and Reform Act: the U.S. House of Representatives Bill H.R. 2646 and the Senate Agriculture Committee proposal. Both proposals try to incorporate the additional emergency federal funding that...

This study analyzes three farm bill proposals that could replace the Federal Agricultural Improvement and Reform Act: The U.S. House of Representatives Bill H.R. 2646, the Senate Agriculture Committee Proposal, and the Agricultural Conservation Rural Enhancement (ACRE) Act. All proposals try to...

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...

The use of national aggregate measures for the purpose of analyzing the impacts of agricultural policies hides the impact of national policies on the distribution of benefits and costs between and within regions, size, and types of businesses. While economists can use national aggregate measures...