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The 1996 Farm Act and the 1994 Crop Insurance Reform Act are recent examples of policy changes that have increased risks for U.S. farmers. New products are emerging to help farmers manage risks. This article examines some of the policy changes, farmer responses, and new risk-sharing products....
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In this paper, we: 1. Provide a conceptual discussion of the “portfolio” of mechanisms used by farms and households to adjust to price, income and wealth shocks. Farms adjust their production activities and employment to maximize profits given changes in relative prices and factor returns....
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The 1996 Farm Act and the 1994 Crop Insurance Reform Act are recent examples of policy changes that have increased risks for U.S. farmers. New products are emerging to help farmers manage risks. This article examines some of the policy changes, farmer responses, and new risk-sharing products....
Persistent link: https://www.econbiz.de/10014054665