Crop Insurance Savings Accounts: A Viable Alternative to Crop Insurance?
This research explores the viability of an alternative design for crop insurance based upon farmer-owned savings accounts that are regulated, monitored, and marginally assisted by the government. Such accounts could he an effective risk management tool for many farmers and could operate without majo...
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| Veröffentlicht in: | Applied economic perspectives and policy 2014-09, Vol.36 (3), p.527-545 |
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| container_end_page | 545 |
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| container_title | Applied economic perspectives and policy |
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| creator | Colson, Gregory Ramirez, Octavio A. Fu, Shengfei |
| description | This research explores the viability of an alternative design for crop insurance based upon farmer-owned savings accounts that are regulated, monitored, and marginally assisted by the government. Such accounts could he an effective risk management tool for many farmers and could operate without major government subsidization. Relative to the current program, the proposed design should exhibit minimal moral hazard and adverse selection problems, and since farm-level risk does not have to be priced, the proposed design eliminates the premium rating difficulties that weaken actuarial soundness and trigger the need for substantial external subsidies. In addition, administrative costs should be considerably lower. |
| doi_str_mv | 10.1093/aepp/ppu002 |
| format | Article |
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Such accounts could he an effective risk management tool for many farmers and could operate without major government subsidization. Relative to the current program, the proposed design should exhibit minimal moral hazard and adverse selection problems, and since farm-level risk does not have to be priced, the proposed design eliminates the premium rating difficulties that weaken actuarial soundness and trigger the need for substantial external subsidies. 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| ispartof | Applied economic perspectives and policy, 2014-09, Vol.36 (3), p.527-545 |
| issn | 2040-5790 2040-5804 |
| language | eng |
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| source | Jstor Complete Legacy; Wiley Online Library Journals Frontfile Complete; Business Source Complete |
| subjects | Agricultural economics Agricultural policy Agricultural subsidies Contribution rates Crop insurance Farm economics farm risk management farm support programs Farmers federal deficit Insurance premiums Moral hazard Revenue Savings accounts Studies Submitted Article |
| title | Crop Insurance Savings Accounts: A Viable Alternative to Crop Insurance? |
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