Non-Parametric and Semi-Parametric Techniques for Modeling and Simulating Correlated, Non-Normal Price and Yield Distributions: Applications to Risk Analysis in Kansas Agriculture

Abstract

AbstractParametric, non-parametric, and semi-parametric approaches are commonly used for modeling correlated distributions. Semi-parametric and non-parametric approaches are used to examine the risk situation for Kansas agriculture. Results from the model indicate that 2000 will be another difficult year for Kansas farmers, although crop income will increase slightly from 1999. However, unless another supplemental infusion of government payments occurs, crop income is expected to be the lowest since 1992.