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Stability of Farm Income and the Role of Nonfarm Income in U.S. Agriculture
Author(s) -
Mishra Ashok K.,
Sandretto Carmen L.
Publication year - 2002
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1111/1058-7195.00014
Subject(s) - nonfarm payrolls , agriculture , economics , agricultural economics , farm income , net national income , labour economics , gross income , public economics , geography , archaeology , tax reform , state income tax
This study measures the variability in real net farm income in the U.S. agricultural sector and per farm and determines if variability has diminished over 1933 to 1999. Second, the role of nonfarm income in reducing the variability in total farm household income is examined. Results indicate that the variability in real net farm income in the sector and at the farm level has not diminished and that nonfarm income has helped to reduce the variability in total farm household income.