The research team estimates the general-equilibrium labor market effects of a large-scale randomized intervention designed and markets a rainfall index insurance product across three states in India. Marketing agricultural insurance to both cultivators and to agricultural wage laborers allows the team to test a general-equilibrium model of wage determination in settings where households supplying labor and households hiring labor face weather risk.
This presentation took place in University of California Davis, United States describing the general equilibrium in labor markets effecting the selling of insurance to the landed and the landless in India.
This paper seeks to understand the structure of demand for rainfall index insurance in India by developing two approaches to estimating households’ valuation of rainfall insurance and evaluating them against an experiment in which fixed prices are randomly assigned.
This paper describes the contract design and institutional features of an innovative rainfall insurance policy offered to smallholder farmers in rural India, and presents preliminary evidence on the determinants of insurance participation.