Income risk and allocation of labour time

An empirical investigation

Ashok Mishra, Barry K. Goodwin

Research output: Contribution to journalArticle

14 Citations (Scopus)

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 languageEnglish (US)
Pages (from-to)1549-1555
Number of pages7
JournalApplied Economics
Volume30
Issue number12
StatePublished - 1998
Externally publishedYes

Fingerprint

Farm
Income risk
Empirical investigation
Labor
Operator
Off-farm employment
Labor supply
Farm labor
Farm income
Random effects model
Fixed effects model
Wage rate
Asset value
Economic theory
Risk-averse

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

Income risk and allocation of labour time : An empirical investigation. / Mishra, Ashok; Goodwin, Barry K.

In: Applied Economics, Vol. 30, No. 12, 1998, p. 1549-1555.

Research output: Contribution to journalArticle

Mishra, Ashok ; Goodwin, Barry K. / Income risk and allocation of labour time : An empirical investigation. In: Applied Economics. 1998 ; Vol. 30, No. 12. pp. 1549-1555.
@article{9a9b11f1cc4841ec97e4fc86d7218251,
title = "Income risk and allocation of labour time: An empirical investigation",
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.",
author = "Ashok Mishra and Goodwin, {Barry K.}",
year = "1998",
language = "English (US)",
volume = "30",
pages = "1549--1555",
journal = "Applied Economics",
issn = "0003-6846",
publisher = "Routledge",
number = "12",

}

TY - JOUR

T1 - Income risk and allocation of labour time

T2 - An empirical investigation

AU - Mishra, Ashok

AU - Goodwin, Barry K.

PY - 1998

Y1 - 1998

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=0032454680&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0032454680&partnerID=8YFLogxK

M3 - Article

VL - 30

SP - 1549

EP - 1555

JO - Applied Economics

JF - Applied Economics

SN - 0003-6846

IS - 12

ER -