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Crop Insurance for Energy Grasses

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  • Miao, Ruiqing
  • Khanna, Madhu

Abstract

This study compares the efficiency of three policy instruments (i.e., crop insurance, establishment cost share, and biomass price subsidy) in promoting energy crop production. The efficiency is measured by energy crop acreage increased due to the policy instrument for a given amount of government expenditure supporting the instrument. Based on a unique dataset of county-level miscanthus yield over 1979-2010 across the rainfed region of the United States, our results show that if there is no credit constraint in financing establishment costs then crop insurance is most efficient and biomass price subsidy is least efficient among the three policy instruments. If there is credit constraint in financing establishment costs, however, then crop insurance is more (respectively, less) efficient than establishment cost share for small (respectively, large) expenditure. Geographical distributions of energy crop acreage under different policy instruments are studied as well.

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Bibliographic Info

Paper provided by Agricultural and Applied Economics Association in its series 2013 AAEA: Crop Insurance and the Farm Bill Symposium, October 8-9, Louisville, KY with number 156936.

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Date of creation: 2013
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Handle: RePEc:ags:aaeaci:156936

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Keywords: crop insurance; energy crops; establishment costs; miscanthus; yield; Land Economics/Use; Production Economics; Resource /Energy Economics and Policy; Risk and Uncertainty; Q15; Q16; Q28;

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  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(02), May.
  2. Keith H. Coble & Robert Dismukes, 2008. "Distributional and Risk Reduction Effects of Commodity Revenue Program Design ," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(3), pages 543-553.
  3. Fewell, Jason E. & Bergtold, Jason S. & Williams, Jeffery R., 2011. "Farmers’ Willingness to Grow Switchgrass as a Cellulosic Bioenergy Crop: A Stated Choice Approach," 2011 Annual Meeting, June 29-July 1, 2011, Banff, Alberta, Canada 109776, Western Agricultural Economics Association.
  4. Jun Yan, . "Enjoy the Joy of Copulas: With a Package copula," Journal of Statistical Software, American Statistical Association, vol. 21(i04).
  5. Huang, Haixiao & Khanna, Madhu & Önal, Hayri & Chen, Xiaoguang, 2013. "Stacking low carbon policies on the renewable fuels standard: Economic and greenhouse gas implications," Energy Policy, Elsevier, vol. 56(C), pages 5-15.
  6. Babcock, Bruce A. & Choi, E. Kwan & Feinerman, Eli, 1993. "Risk and Probability Premiums for Cara Utility Function," Staff General Research Papers 596, Iowa State University, Department of Economics.
  7. Joshua D. Woodard & Alexander D. Pavlista & Gary D. Schnitkey & Paul A. Burgener & Kimberley A. Ward, 2012. "Government Insurance Program Design, Incentive Effects, and Technology Adoption: The Case of Skip-Row Crop Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(4), pages 823-837.
  8. Barry K. Goodwin & Monte L. Vandeveer & John L. Deal, 2004. "An Empirical Analysis of Acreage Effects of Participation in the Federal Crop Insurance Program," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 1058-1077.
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