English, Article edition: Hedging with weather derivatives to cope with climate variability and change in grain maize production Daniele Simone Torriani; Pierluigi Calanca; Martin Beniston; ...

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Bookmark: http://trove.nla.gov.au/version/362
Physical Description
  • article
Language
  • English

Edition details

Title
  • Hedging with weather derivatives to cope with climate variability and change in grain maize production
Author
  • Daniele Simone Torriani
  • Pierluigi Calanca
  • Martin Beniston
  • Jürg Fuhrer
Physical Description
  • article
Notes
  • The effectiveness of hedging drought risks with weather derivatives was investigated for rain-fed grain maize production in Switzerland under current (1981-2003) and projected future (2070-2100) climatic conditions. Depending on location, hedging reduced the value-at- (VaR) measure to a variable degree, although with a considerable basis risk, but hedging may provide a valid risk transfer since loading of 90 per cent to 240 per cent of the fair premium can be paid to obtain a hedged situation with improved outcomes relative to the reference. However, the fair premium of a specific contract may vary by a factor of two to four over the 70-year period considered, which represents a substantial uncertainty for both the farmer and the institution writing the contract.
  • Agricultural insurance, Economic models, Insurance demand models, Spain
  • RePEc:eme:afrpps:v:68:y:2008:i:1:p:67-81
Language
  • English
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