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- Title
Premium subsidies and selection in the federal crop insurance program.
- Authors
Yu, Jisang; Perry, Edward D.
- Abstract
Understanding how subsidies affect the selection of farms with different risk exposure into insurance products is key to evaluating the efficiency of government‐supported insurance programs. We study the US crop insurance program, which is a major federally supported insurance program, to assess the impact of premium subsidies on the riskiness of the insured. By exploiting two waves of policy changes, we find that the average loss per insured liability falls as premium subsidies increase, which implies that crop producers with lower risk are more responsive to the price of insurance.
- Subjects
CROP insurance; SUBSIDIES; FARM risks; RISK exposure; INSURED losses
- Publication
Journal of Agricultural Economics, 2024, Vol 75, Issue 1, p280
- ISSN
0021-857X
- Publication type
Article
- DOI
10.1111/1477-9552.12555