IDEAS home Printed from https://ideas.repec.org/p/ags/usdami/338292.html
   My bibliography  Save this paper

Climate Change Impacts on Crop Insurance

Author

Listed:
  • Beach, Robert H.
  • Zhen, Chen
  • Thomson, Allison
  • Rejesus, Roderick M.
  • Sinha, Paramita
  • Lentz, Anthony W.
  • Vedenov, Dmitry V.
  • McCarl, Bruce A.

Abstract

Excerpt from the Executive Summary: In this report, we provide an assessment of the potential long-term implications of climate change on the U.S. crop insurance portfolio. Agricultural producers have always faced numerous production and price risks, but forecasts of more rapid changes in climatic conditions in the future have raised concerns that these risks will increase in the future relative to historical conditions. In addition to implications for landowner decisions regarding land use, crop mix, and production practices, changing agricultural risks could potentially affect the performance of the crop insurance program. Thus, we assess the potential implications of climate change on the financial returns to both the public Federal Crop Insurance Corporation (FCIC) and the private approved insurance providers (AIPs) under the current Standard Reinsurance Agreement (SRA) and identify potential considerations for the specification of the SRA and other aspects of the crop insurance program that may help to mitigate financial impacts.

Suggested Citation

  • Beach, Robert H. & Zhen, Chen & Thomson, Allison & Rejesus, Roderick M. & Sinha, Paramita & Lentz, Anthony W. & Vedenov, Dmitry V. & McCarl, Bruce A., 2010. "Climate Change Impacts on Crop Insurance," USDA Miscellaneous 338292, United States Department of Agriculture.
    • Handle: RePEc:ags:usdami:338292
    DOI: 10.22004/ag.econ.338292
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/338292/files/CropInsuranceClimateChange2010.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.338292?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bruce J. Sherrick & Fabio C. Zanini & Gary D. Schnitkey & Scott H. Irwin, 2004. "Crop Insurance Valuation under Alternative Yield Distributions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 406-419.
    2. Wolfram Schlenker & W. Michael Hanemann & Anthony C. Fisher, 2005. "Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach," American Economic Review, American Economic Association, vol. 95(1), pages 395-406, March.
    3. repec:cdl:agrebk:qt8q8309qn is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jesse Tack & Ardian Harri & Keith Coble, 2012. "More than Mean Effects: Modeling the Effect of Climate on the Higher Order Moments of Crop Yields," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1037-1054.
    2. Mérel, Pierre & Paroissien, Emmanuel & Gammans, Matthew, 2024. "Sufficient statistics for climate change counterfactuals," Journal of Environmental Economics and Management, Elsevier, vol. 124(C).
    3. Bareille, François & Chakir, Raja, 2023. "The impact of climate change on agriculture: A repeat-Ricardian analysis," Journal of Environmental Economics and Management, Elsevier, vol. 119(C).
    4. Tack, Jesse, 2013. "A Nested Test for Common Yield Distributions with Applications to U.S. Corn," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(01), pages 1-14, April.
    5. Newbold, Stephen & Griffiths, Charles & Moore, Chris & Wolverton, Ann & Kopits. Elizabeth, 2010. "The “Social Cost of Carbon” Made Simple," National Center for Environmental Economics-NCEE Working Papers 280887, United States Environmental Protection Agency (EPA).
    6. Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2014. "What Do We Learn from the Weather? The New Climate-Economy Literature," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 740-798, September.
    7. Lee, Jaehyuk & Nadolnyak, Denis A., 2012. "The Impacts of Climate Change on Agricultural Farm Profits in the U.S," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124801, Agricultural and Applied Economics Association.
    8. Kevin Donovan, 2011. "Risk, Farm Ownership, and International Productivity Differences," 2011 Meeting Papers 1088, Society for Economic Dynamics.
    9. Lichtenberg, Erik & Majsztrik, John & Saavoss, Monica, "undated". "Willingness to Pay for Sensor-Controlled Irrigation," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 168211, Agricultural and Applied Economics Association.
    10. Liu, Ziheng & Lu, Qinan, 2023. "Ozone stress and crop harvesting failure: Evidence from US food production," Food Policy, Elsevier, vol. 121(C).
    11. Daniel Cooley & Steven M. Smith, 2022. "Center Pivot Irrigation Systems as a Form of Drought Risk Mitigation in Humid Regions," NBER Chapters, in: American Agriculture, Water Resources, and Climate Change, pages 135-171, National Bureau of Economic Research, Inc.
    12. Douadia Bougherara & Laurent Piet, 2018. "On the role of probability weighting on WTP for crop insurance with and without yield skewness," Working Papers hal-01947417, HAL.
    13. Jesse B. Tack & David Ubilava, 2015. "Climate and agricultural risk: measuring the effect of ENSO on U.S. crop insurance," Agricultural Economics, International Association of Agricultural Economists, vol. 46(2), pages 245-257, March.
    14. Orley Ashenfelter & Karl Storchmann, 2010. "Measuring the Economic Effect of Global Warming on Viticulture Using Auction, Retail, and Wholesale Prices," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 37(1), pages 51-64, August.
    15. Ariel Ortiz-Bobea, 2021. "Climate, Agriculture and Food," Papers 2105.12044, arXiv.org.
    16. Mallory, Mindy L. & Ando, Amy W., 2014. "Implementing efficient conservation portfolio design," Resource and Energy Economics, Elsevier, vol. 38(C), pages 1-18.
    17. Eric C. Edwards & Walter N. Thurman, 2022. "The Economics of Climatic Adaptation: Agricultural Drainage in the United States," NBER Chapters, in: American Agriculture, Water Resources, and Climate Change, pages 29-51, National Bureau of Economic Research, Inc.
    18. Cristina Cattaneo & Emanuele Massetti, 2019. "Does Harmful Climate Increase Or Decrease Migration? Evidence From Rural Households In Nigeria," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(04), pages 1-36, November.
    19. José Gustavo Féres & Eustáquio José Reis & Juliana Speranza, 2008. "Assessing the Impact of Climate Change on the Brazilian Agricultural Sector," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807181438190, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    20. Chang, Jun-Jie & Mi, Zhifu & Wei, Yi-Ming, 2023. "Temperature and GDP: A review of climate econometrics analysis," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 383-392.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:usdami:338292. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://www.usda.gov .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.