Determinants of economic well‐being among U.S. farm operator households

El‐Osta, Hisham S.; Mishra, Ashok K.; Morehart, Mitchell J.

doi:10.1111/j.1574-0862.2007.00207.x

Cited by 39 publications

(34 citation statements)

References 32 publications

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“…According to Ahearn and El‐Osta (1992), off‐farm labor of farm households can no longer be considered a transitional position; it has become the primary source of income with farming as a secondary source of income. In 1998, off‐farm income was six times greater than cash farm income and comprised nearly 80% of total household income (USDA, 2010; El‐Osta et al, 2008). Today off‐farm income comprises more than 90% of the total household income 1…”

Section: Introductionmentioning

confidence: 99%

Welfare implications of reduced government subsidies to farm families: accounting for fringe benefits

D’Antoni¹,

Mishra²

2013

Agricultural Economics

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In the past three decades, farm families have relied on government payments and off-farm income to reduce income risk and increase total household income. Studies have shown that, as the income effect dominates, government payments tend to reduce off-farm labor of farm operators and spouses. But that may not be true if one accounts for fringe benefits associated with off-farm employment. Additionally, with looming budget deficits and the possibility of a reduction in decoupled government payments, farm families may be facing an altered economic environment. Our study addresses this issue by examining the links between government farm program payments and the ever-important role of fringe benefits in the off-farm employment of farm couples. Results from farm-level data actually show that the marginal effect of government payments on hours worked off-farm will decrease in magnitude when accounting for fringe benefits, ceteris paribus. These results support the notion that farm households' welfare loss stemming from reduced decoupled payments may be overstated when models exclude fringe benefits from the estimation of off-farm labor supply. JEL classifications: J22, J43, Q12, Q18

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Section: Introductionmentioning

confidence: 99%

Welfare implications of reduced government subsidies to farm families: accounting for fringe benefits

D’Antoni¹,

Mishra²

2013

Agricultural Economics

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“…Controlling economic and productive results of the agricultural activity leads to efficient business management. El-Osta et al (2007) even conclude that management skills are positively related to the well-being of farmers. Moreover, there are studies that reveal that computer use on the farm is positively correlated to profitability, indicating that the use of information in decision making increases business performance (gelb et al 2001).…”

Section: Introductionmentioning

confidence: 94%

An analysis of factors affecting the adoption of economic and productive data recording methods of Chilean farmers

Engler

Toledo

2010

Cienc. Inv. Agr.

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A. Engler, and R. Toledo. 2010. An analysis of factors affecting the adoption of economic and productive data recording methods of Chilean farmers. Cien. Inv. Agr. 37(2): 101-109. Integration of the Chilean domestic economy into international markets has created the need to incorporate more technology, information, and management tools and to generate better entrepreneurial skills at the farm level. These changes require the development of strategic capabilities and farmer changes in attitude. The goal for farmers is to be more prepared for the decision-making process and to have adequate evaluation and control systems to face the complexity of the farm business. The literature suggests that using management tools positively correlates with profits and concludes that management skills are positively related to farmers' well-being. Survey information on 211 farmers from central and southern Chile was used to estimate a probit model where the dependent variable was record-keeping by farmers. The results show that the farmers' educational level, age, membership a Technological Transfer Group, land leasing, and the farmers' own perception of their aversion to risk are statistically significant variables in the model. The model goodness of fit is 0.41, and the model has good predictive power for groups of farmers.

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“…The closing of the income gap between farm and non-farm households since 1998, which has been attributed to the growth in the earnings from off-farm sources resulting primarily from greater returns to farm household skills employed off the farm (Brown and Weber 2013), has made the use of the 'high-income, high-wealth' quadrant as developed by , and as was implemented by El-Osta, Mishra, and Morehart (2007), as a means of categorizing advantageous economic performance less relevant. For example, in 2002, almost half of U.S. farm households had both higher incomes and greater wealth than all U.S. households ; a proportion that now, based on the 2015 ARMS, stands at 64 percent.…”

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confidence: 99%

Strategies to Manage Risk and their Role in Impacting Economic Performance among Farm Households

El‐Osta¹

2018

AEF

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Data from the 2015 ARMS and a multinomial probit regression model were used in an attempt to discern the impact of socio-economic factors on the likelihood of a farm household falling in a favorable income-wealth category delineated by above-median income and wealth levels. A primary determinant considered was the number of risk management strategies utilized by the farm household. Findings indicate that farmers who layer up the adoption of risk management strategies are most likely to secure an economic performance status characterized by 'low-income, high-wealth'. Aging farm operators and those with college education and who operate larger sized farms are found more likely to be in the top economic performance category of 'high-income, high-wealth'.

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Determinants of economic well‐being among U.S. farm operator households

Cited by 39 publications

References 32 publications

Welfare implications of reduced government subsidies to farm families: accounting for fringe benefits

Welfare implications of reduced government subsidies to farm families: accounting for fringe benefits

An analysis of factors affecting the adoption of economic and productive data recording methods of Chilean farmers

Strategies to Manage Risk and their Role in Impacting Economic Performance among Farm Households

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