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Country Contribution to World Economic Activity and Growth
During the last several months, world economic growth has emerged as an issue. To provide context, this article identifies the 10 countries with the largest economy as measured by gross domestic product (GDP) as well as the 10 countries that have contribu ...
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Freedom to Farm, Changes in Planted Acres, and Policy Observations
An important change in U.S. farm policy occurred when the Federal Agriculture Improvement and Reform Act of 1996 eliminated acreage set asides. Supply controls had been a feature of U.S. farm policy since the Agricultural Adjustment of 1933. This article ...
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Olympic Moving Average and Price Protection
Recent discussions over the farm safety net have focused on the need for price protection. This article examines the price protection provided by a 5-year Olympic moving average of price. A specific focus is its performance during the price decline of the ...
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Farm Payment Limits: History and Observations
Debate over limits on payments by farm safety net programs has become increasingly passionate. In the current 2012 Farm Bill debate, significant attempts likely will be made (1) to further tighten existing payment limits and (2) to implement limits on cro ...
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Price vs. Revenue Farm Safety Net
An issue of disagreement during the 2012 Farm Bill debate is whether the farm safety net should focus on revenue or price. Until the ACRE program was enacted in the 2008 Farm Bill, farm programs focused on price. This article compares price and revenue pr ...
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Shallow Loss Programs and the 2012 Farm Bill Debate
A signature issue of the 2012 farm bill debate is the addition of a shallow loss program to complement existing crop insurance. Shallow loss programs are included in the farm bills passed by the U.S. Senate and the House Committee on Agriculture. Unless t ...
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Non-Harvested Corn and Soybean Acres: Historical Context
The share of acres planted to corn and soybeans that will be harvested in 2012 has emerged as a topic of interest as the U.S. drought has intensified. The topic has garnered even more interest in light of the U.S. Department of Agriculture’s (USDA) August ...
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2012 Drought: Yield Loss, Revenue Loss, and Harvest Price Option
This article examines the impact of the 2012 drought on per acre revenue for corn and soybeans compared with the revenue expected in February. The article also examines the impact of crop insurance and, more specifically, the harvest price option, on per ...
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2012 Farm Bill Debate: Multiple-Year Risk Assistance Programs
Most farm safety net provisions in the Farm Bills passed by the full Senate and the House of Representative’s Committee on Agriculture can be classified into 3 categories: (1) enhancements to crop insurance, (2) assistance against shallow losses, and (3) ...
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Do Volatility Smiles Matter for Pricing Asian Basket Options? The Case of Livestock Gross Margin Insurance for Dairy Cattle
By M. Bozic, J. Newton, C.S. Thraen, B.W. Gould Livestock Gross Margin Insurance for Dairy Cattle (LGM-Dairy) is Asian basket option-like insurance tool that enables U.S. dairy producers to protect income-over-feed-costs margins. While LGM-Dairy rating me ...