An adequate representation of the technological trend component of yield time series is of crucial importance for the successful design of risk management instruments. However, for many transition and developing countries, the estimation of the technological trend is complicated by the joint...

The application of yield time series in risk analysis prerequisites the estimation of technological trend which might be present in the data. In this paper, we show that in presence of highly volatile yield time series and non-constant technology, the consideration of the weather effect in the...

The study evaluates the effectiveness of a catastrophic drought-index insurance developed by applying two alternative methods - the standard regression analysis and the copula approach. Most empirical analyses obtain estimates of the dependence of crop yields on weather by employing linear...

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We analyze the current state and future requirements of an agricultural income stabilization mechanism in a transition country – namely, the crop insurance system in Kazakhstan. Three objectives will be pursued: First, factors influencing the development of the crop insurance market will be...

The study introduces an ex-ante evaluation concept into the analysis of weather-based index insurance effectiveness. We conduct our ex ante analysis by distinguishing between two consecutive periods: the first period is used for determining insurance parameters and optimal number of insurance...

The paper evaluates the effectiveness ofseveral index-based crop insurance schemes bycomparing results from two alternative evaluationapproaches. We apply the common ex post approachfrom the literature by specifying and evaluatinginsurance contracts by means of the data for the samehistorical...

Risk plays an important role in agricultural decision-making, particularly in those regions that are remarkably exposed to natural hazards and underdeveloped input and output markets. This is especially true for crop production in CIS countries where many farms have to deal with low liquidity...

An ex post measure of risk reduction is commonly used in the literature to predict the potential reduction of farmers’ yield risk due to weather-based index insurance and area-yield crop insurance. In this paper, we evaluate the predictive power of the ex post risk reduction for different...