Income risk and allocation of labour time: An empirical investigation

Ashok K. Mishra, Barry K. Goodwin

Research output: Contribution to journalArticle

15 Scopus citations

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
DOIs
StatePublished - 1998

ASJC Scopus subject areas

  • Economics and Econometrics

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