Abstract
This study investigates the behaviour of risk averse farm operators in response to farm income and employment variability. Economic theory maintains that greater farm income variability should increase off-farm labour supply. On the other hand greater off-farm employment variability should decrease off-farm labour supply. This effect is confirmed for a sample of farm operators in North Carolina and Kansas using fixed and random effects models. Off-farm employment of farm operators is also found to be significantly influenced by age, efficiency, asset value, and off-farm wage rate.
Original language | English (US) |
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Pages (from-to) | 1549-1555 |
Number of pages | 7 |
Journal | Applied Economics |
Volume | 30 |
Issue number | 12 |
DOIs | |
State | Published - 1998 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics