A quantitative analysis of the demand for and supply of farm labor

Abstract

The form of the hired labor demand equations 55 The inclusion of time as a variable 59 The effect of the inclusion of an additional independent variable 60 The use of different deflators 61 Equations with variables in linear or logarithmic form 61 The use of single and simultaneous equation estimation 63 The effect of the assumption of an autoregressive scheme 63 Analysis of the National Demand Functions for Hired Labor 68 The farm wage rate as an indicator of the price of hired labor 68 The prices received variable as an indicator of the relative profitability of farming 73 The value of farm machinery and equipment variable 77 Summary of the results of the estimation of the demand functions for hired labor in the U.S. The farm wage rate 83 The parity ratio variable 86 The trend variable as an indicator of technology changes 87 The time path of adjustment 87 Summary 88. EMPIRICAL ESTIMATES OF DEMAND FUNCTIONS FOR FAMILY LABOR 89The National Demand Functions for Family Labor 91The farm wage rate as the price of family labor 97 The prices received variable 99 Comparison of the demand for total farm labor with the demand for family labor 100 iv Summary of the demand functions for family labor 104

Factor demand in the United States agriculture: econometric simulation

“…Johnson estimated demand and supply functions for hired and family labor (59). The results from this study showed that the demand for hired labor was a function of farm wage rate with a negative sign and, with the prices of agricultural products variable indicated a positive sign.…”