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Agricultural Households: An Exploratory Analysis Revisiting Financial Position and Well‐being in Australia*
Author(s) -
Chancellor Will,
Zhao Shiji
Publication year - 2021
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12293
Subject(s) - agriculture , position (finance) , population , australian population , order (exchange) , economics , volatility (finance) , exploratory analysis , business , agricultural economics , demographic economics , economic growth , geography , finance , sociology , data science , archaeology , computer science , demography
As the issue of agricultural household economic well‐being begins to resurface, we use custom data sets to compare the financial position of agricultural households to the general Australian population. We find that agricultural households tend to have higher levels of wealth compared to households in the average Australian population, yet experience more income volatility on average. Our study brings attention to the important well‐being issue while also highlighting the need to collect robust farm household data in order to better understand the complex dynamics of household well‐being in the Australian agricultural sector.