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Safety Nets or Trampolines? Federal Crop Insurance, Disaster Assistance, and the Farm Bill

Author

Listed:
  • Goodwin, Barry K.
  • Rejesus, Roderick M.

Abstract

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 of the interrelationships of crop insurance, disaster relief, and farm profitability. We find an inverse relationship between disaster assistance and insurance purchases. Our analysis also suggests that farmers that buy insurance and that receive disaster payments tend to have higher returns to farming.

Suggested Citation

  • Goodwin, Barry K. & Rejesus, Roderick M., 2008. "Safety Nets or Trampolines? Federal Crop Insurance, Disaster Assistance, and the Farm Bill," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(2), pages 1-15, August.
    • Handle: RePEc:ags:joaaec:46980
    DOI: 10.22004/ag.econ.46980
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    Cited by:

    1. Claassen, Roger & Cooper, Joseph C. & Carriazo, Fernando, 2011. "Crop Insurance, Disaster Payments and Land Use Change: The Effect of Sodsaver on Incentives for Grassland Conversion," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(2), pages 1-17, May.
    2. Scott Callahan, 2018. "Agricultural Disaster Payments: Are They Still Politically Allocated?," Working Papers 18-14, Department of Economics, Appalachian State University.
    3. Claassen, Roger & Carriazo, Fernando & Cooper, Joseph C. & Hellerstein, Daniel & Ueda, Kohei, 2011. "Grassland to Cropland Conversion in the Northern Plains: The Role of Crop Insurance, Commodity, and Disaster Programs," Economic Research Report 262239, United States Department of Agriculture, Economic Research Service.
    4. Schoengold, Karina & Ding, Ya & Headlee, Russell, 2012. "The Impact of Ad-hoc Disaster Programs on the Use of Conservation Practices," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124957, Agricultural and Applied Economics Association.
    5. Swanson, Krista & Schnitkey, Gary & Zulauf, Carl & Coppess, Jonathan & Paulson, Nick, . "The Continuation of Disaster Programs in U.S. Agriculture: Emergency Relief Program," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 12(83).

    More about this item

    Keywords

    Agribusiness; Agricultural and Food Policy; Crop Production/Industries; Risk and Uncertainty;
    All these keywords.

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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