Are U.S. Corn and Soybeans Becoming More Drought Tolerant?
The hypothesis that corn and soybeans have become more drought tolerant is tested by regressing county yields on a drought index and time. Results indicate that corn yield losses from drought of a given severity, whether measured in quantity terms or as a percentage of mean yields, have decreased over time. Soybean percentage yield losses have also declined, but absolute losses have remained largely constant. The potential impact of increased drought tolerance on U.S. crop insurance rates is illustrated by comparing Group Risk Plan premium rates assuming time-invariant susceptibility to drought with rates generated from this article’s regression results.
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|Date of creation:||15 Nov 2010|
|Publication status:||Published in American Journal of Agricultural Economics 2010, vol. 92, pp. 1310-1323|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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- Daniel O'Brien & Marvin Hayenga & Bruce Babcock, 1996.
"Deriving Forecast Probability Distributions of Harvest-Time Corn Futures Prices,"
Review of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 18(2), pages 167-180.
- O'Brien, Daniel & Hayenga, Marvin L. & Babcock, Bruce A., 1996. "Deriving Forecast Probability Distributions of Harvest-Time Corn Futures Prices," Staff General Research Papers Archive 5234, Iowa State University, Department of Economics.
- Jerry R. Skees & J. Roy Black & Barry J. Barnett, 1997. "Designing and Rating an Area Yield Crop Insurance Contract," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 430-438.
- Arellano, M, 1987. "Computing Robust Standard Errors for Within-Groups Estimators," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 49(4), pages 431-434, November. Full references (including those not matched with items on IDEAS)