Risk and Household Grain Management in Developing Countries

@inproceedings{Park2001RiskAH,
  title={Risk and Household Grain Management in Developing Countries},
  author={Albert Park},
  year={2001}
}
A dynamic model is presented of a household’s joint production, storage, and trade decisions under price risk, region-wide and idiosyncratic yield risk, and explicit transaction costs. Balancing the goals of profit maximization and hedging against consumption price risk, grain management decisions are nonlinear, interdependent functions of the market price and household grain availability and financial wealth. Model solutions calibrated to Chinese data reveal that grain’s consumption role makes… CONTINUE READING
Highly Cited
This paper has 22 citations. REVIEW CITATIONS

From This Paper

Figures, tables, and topics from this paper.

Citations

Publications citing this paper.
Showing 1-10 of 18 extracted citations

References

Publications referenced by this paper.
Showing 1-10 of 41 references

1991) for a detailed explanation for how this model is solved. The essential algorithm is the same as that used to solve the household

See Williams, Wright
1991
View 7 Excerpts
Highly Influenced

The Impact of China’s Grain Reserve System on Import Demand,

Crook, W Frederick
1999

General Equilibrium Models of Financial Systems: Theory and Measurement in Villag Economies,

Lim, Youngjae, Robert Townsend
Review of Economic Dynamics • 1998

Numerical Methods in Economics (Cambridge: MIT Press)

Judd, Kenneth
1998

Risk, Asset Choices, and Mutual Insurance in Rural China, paper presented at AEA annual meeting, Chicago, IL

Park, Albert
1998

Dynamic Portfolio Management in Developing Countries, mimeo

Zimmerman, Frederic, Michael Carter
1997

Precautionary Savings, Credit Constraints, and Irreversible Investments: Evidence from Semi-Arid India,

Fafchamps, Marcel, John Pender
Journal of Business and Economic Statistics • 1997

Farmers’ Welfare and Changing Food Prices: Nonparametric Evidence from Rice in Madagascar,

Barrett, Christopher, Paul Dorosh
American Journal of Agricultural Economics • 1996

Similar Papers

Loading similar papers…