Bruce Ahrendsen (University of Arkansas), Joseph Anderson (Cornell University), Kenneth Auer (Farm Credit Council), Mary Bohman (ERS-USDA), Brian Briggeman (Oklahoma State University), Brian Brinch (Farmer Mac), Faye Butts (Cornell University, Ram Chandran (ERS-USDA), Sommarat (Pin) Chantarat (Cornell University), Joseph Cooper (ERS-USDA) Theodore Covey (ERS-USDA), Matthew Diersen (South Dakota State University), Bruce Dixon (University of Arkansas),Charles Dodson (FSA-USDA), Jonathan Dressler (Penn State University), Ron Durst (ERS-USDA), Paul Ellinger (University of Illinois), Bert Ely (Ely & Company, Inc.), Ken Erickson (ERS-USDA), James Eaves (Rutgers University), Travis Farley (University of Illinois), Allen Featherstone (Kansas State University), Francisco Fraire (Texas A&M University), Steven Guebert (Farm Credit Administration), Michael Gunderson (University of Florida), Cole Gustafson (North Dakota State University), Steven Hanson (Michigan State University), Valentina Hartarska (Auburn University), Gregg Ibendahl (Mississippi State University), Craig Jagger (U.S. House of Representatives), James Johnson (ERS-USDA), Ani Katchova (University of Illinois), Maureen Kilkenny (University of Nevada), Steve Koenig (FSA-USDA), Rong Kong (visiting scholar, Cornell University), Keith Leggett (American Bankers Association), Sergio Lence (Iowa State University), Dana Marcellino (Purdue University), Daniel Milkove (ERS-USDA), Griffen Moag (Cornell University), John Moore (Farm Credit Administration), Mitchell Morehart (ERS-USDA), Charles Moss (University of Florida), Raphael Onyeaghala (Southwest Minnesota State University), Timothy Park (University of Georgia), Gabriel Power (Cornell University), Josh Roe (Kansas State University), Richard Sawyer (Farmer Mac), Jane Schuchardt (CSREES-USDA), Latisha Settlage (University of Arkansas at Fort Smith), Jack Shaw (USDA), Apurba Shee (Cornell University), Bruce Sherrick (University of Illinois), Agapi Somwaru (ERS-USDA), Jeffrey Stokes (Penn State University), Patrick Sullivan (ERS-USDA), Jackson Takach (Farmer Mac), David Torgerson (ERS-USDA), Calum Turvey (Cornell University), James Webster (The Webster Agricultural Letter), Christine Wilson (Purdue University).
NC-1014 research efforts aim to understand and evaluate recent changes in agricultural and rural finance markets. It also provides recommendations regarding improvements in programs and policies affecting the well-being of farm and rural households. NC-1014 studied the changing agricultural sector structure and evaluated the impacts of various government programs as well as producer responses to changing market conditions.
Several research projects studied how client financing needs changed because non-traditional players have entered the market and because rural non-farm entrepreneurial activities have become more important. Researchers also focused on understanding how traditional lenders can improve their financial products and adopt new technologies for assessing and managing credit risk and improve financial products in order to remain viable service providers to the agricultural community.
The committee continued work on summarizing previous research as well as identify directions for future research in several major agricultural finance areas and disseminating the accumulated knowledge and recommendations for future needs and research via a special issue of the Agricultural Finance Review.
- NC-1014 research helps improve the design of FSA programs using evaluation of USDA Farm Loan Program aspects including cost effectiveness and lender participation in FSAs direct and guaranteed loan programs as well as the use of FSA commercial bank interest assistance.
- Researchers evaluated the current state of farm record-Provide recommendations for better estimation of farm household after-tax income.
- Proposed methodology that could incorporate the extent of agricultural borrower market segmentation and factors affecting agricultural mortgage terminations in new loan products.
- Explored interaction between lender characteristics and loan contracts and farmer demand for certain lender attributes, the role of special financial product aspects and loan default
- Identified premium subsidy changes that may affect the crop insurance demand.
NC1014 Publication list
Oct 05-Sept 06
Blank, Steven C.; Erickson, Kenneth W.; Moss, Charles B., 2005. Profit Patterns across American Agriculture, Journal of Agricultural and Resource Economics, 30(2), pp. 205-30.
Diersen, Matthew A.; Sherrick, Bruce J., 2005. Valuation and Efficient Allocation of GSM Export Credit Guarantees ; Journal of Agricultural and Resource Economics, 30(1), pp. 151-66.
Featherstone, Allen M. Roessler, Laura M. Barry, Peter J., 2006. Determining the Probability of Default and Risk-Rating Class for Loans in the Seventh Farm Credit District Portfolio, Review of Agricultural Economics. 28(1) p. 4-23.
Gloy, Brent A.; Gunderson, Michael A.; LaDue, Eddy L., 2005. The Costs and Returns of Agricultural Credit Delivery, American Journal of Agricultural Economics,87(3), pp. 703-16.
Gloy, Brent A.; LaDue, Eddy L.; Gunderson, Michael A., 2005. Credit Risk Migration and Downgrades Experienced by Agricultural Lenders, Agricultural Finance Review, 65(1), pp. 1-16.
Gustafson, Cole, 2005. Rural Small Business Trade Credit: A Paradox, Agricultural Finance Review, 65(1), pp. 45-57.
Gustafson, Cole R.; Nganje, William E., 2006. Value of Social Capital to Mid-sized Northern Plains Farms ; Canadian Journal of Agricultural Economics, 54(3), pp. 421-38.
Hartarska, Valentina; Gonzalez-Vega, Claudio, 2006. Evidence on the Effect of Credit Counseling on Mortgage Loan Default by Low-Income Households Journal of Housing Economics 15(1), pp. 63-79.
Huang, Haixiao; Miller, Gay Y.; Sherrick, Bruce J.; Gomez, Miguel I., 2006. Factors Influencing Illinois Farmland Values, American Journal of Agricultural Economics, 88(2), pp. 458-70.
Huffman, Sonya K.; Kilkenny, Maureen, 2006. Regional Welfare Program and Labor Force Participation, Iowa State University, Department of Economics, Staff General Research Papers.
Johnson, James P.; Lenartowicz, Tomasz; Apud, Salvador, 2006. Cross-Cultural Competence in International Business: Toward a Definition and a Model, Journal of International Business Studies, 37(4), pp. 525-43.
Jolly, Robert W.; Roe, Josh D. 2005. Selling a Piece of the Farm Credit System; Choices, 20(1), pp. 19-24.
Katchova, Ani L.; Sheldon, Ian M.; Miranda, Mario J, 2005. A Dynamic Model of Oligopoly and Oligopsony in the U.S. Potato-Processing Industry, Agribusiness, 21(3), pp. 409-28.
Katchova, Ani L., 2005. The Farm Diversification Discount, American Journal of Agricultural Economics, 87(4), pp. 984-94.
Kilkenny, Maureen; Jolly, Robert W., 2005. Are Rural Credit Markets Competitive? Is There Room for Competition in Rural Credit Markets? Choices, 20(1), pp. 25-29.
Lence, Sergio H.; Hayes, Dermot J. Genetically Modified Crops: Their Market and Welfare Impacts; American Journal of Agricultural Economics, November 2005, v. 87, iss. 4, pp. 931-50
Lence, Sergio H.; Hayes, Dermot J., 2006, EU and US Regulations for Handling and Transporting Genetically Modified Grains: Are Both Positions Correct? EuroChoices, 5(2), pp. 20-27.
Lence, Sergio H.; Hayes, Dermot J.; McCunn, Alan; Smith, Stephen; Niebur, William S., 2005. Welfare Impacts of Intellectual Property Protection in the Seed Industry, American Journal of Agricultural Economics, 87(4), pp. 951-68.
Livanis, Grigorios; Moss, Charles B.; Breneman, Vincent E.; Nehring, Richard F., 2006. Urban Sprawl and Farmland Prices, American Journal of Agricultural Economics, 88 (4), pp. 915-29.
McBride, William D.; Johnson, James D., 2006. Defining and Characterizing Approaches to Farm Management, Journal of Agricultural and Applied Economics, 38(1), pp. 155-67.
Mishra, Ashok K.; Lence, Sergio H., 2006. Risk Management by Farmers, Agribusinesses, and Lenders, pp. 26 pages, Iowa State University, Department of Economics, Staff General Research Papers
Mishra, Ashok K.; Moss, Charles B., 2006. Adapting a Nonparametric Pooling Test for Use in Panel Cointegration Models, Applied Economics Letters, 13(6), pp. 355-57.
Mishra, Ashok K.; Park, Timothy A., 2005. An Empirical Analysis of Internet Use by U.S. Farmers, Agricultural and Resource Economics Review, 34(2), pp. 253-64.
Moss, Charles B., 2006. Valuing State-Level Funding for Research: Results for Florida, Journal of Agricultural and Applied Economics, 38(1), pp. 169-83.
Nadolnyak, Denis A.; Fletcher, Stanley M.; Hartarska, Valentina M., 2006. Southeastern Peanut-Production Cost Efficiency under the Quota System: Implications for the Farm-Level Impacts of the 2002 Farm Act, Journal of Agricultural and Applied Economics, 38(1), pp. 213-24.
Park, Timothy A.; Lohr, Luanne, 2005. Organic Pest Management Decisions: A Systems Approach to Technology Adoption, Agricultural Economics, 33(3), pp. 467-78.
Settlage, Latisha, 2005. Examining the Use of Farm Service Agency Guaranteed Loans by Commercial Banks, 2005 Purdue University.
Siebert, John; Litzenberg, Kerry; Gallagher, Richard; Wilson, Christine; Dooley, Frank; Wysocki, Al., 2006. Factors Associated with Students' Academic Motivation in Agricultural Economics Classes, American Journal of Agricultural Economics, 88(3), pp. 750-62.
Stokes, Jeffrey R., 2006. Dynamic Cash Discounts When Sales Volume Is Stochastic, Quarterly Review of Economics and Finance, 45(1), pp. 144-60.
Tavernier, Edmund M.; Turvey, Calum G., 2006. Determinants of a Social Clause in International Trade Negotiations, Agricultural Economics, 34(1), pp. 51-57.
Turvey, Calum G.; Komar, Sridar, 2006. Martingale Restrictions and the Implied Market Price of Risk, Canadian Journal of Agricultural Economics, 54(3), pp. 379-99.
Turvey, Calum G.; Weersink, Alfons; Chiang, Szu-Hsuan Celia, 2006. Pricing Weather Insurance with a Random Strike Price: The Ontario Ice-Wine Harvest, American Journal of Agricultural Economics, 88(3), pp. 696-709.
Wilson, Christine; Featherson, Allen; Kastens, Terry; Jones, John, 2006. Determining What's Really Important to Lenders: Factors Affecting the Agricultural Loan Decision-Making Process, pp. 71 pages, Purdue University, College of Agriculture, Department of Agricultural Economics, Working Papers: 06-07.
Wilson, Christine; Featherstone, Allen, 2006. Adjusting the CAPM for Threshold Effects: An Application to Food and Agribusiness Stocks, pp. 31 pages, Purdue University, College of Agriculture, Department of Agricultural Economics, Working Papers: 06-08.