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Income risk and allocation of labour time: an empirical investigation

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  • Ashok Mishra
  • Barry Goodwin

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.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 30 (1998)
Issue (Month): 12 ()
Pages: 1549-1555

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Handle: RePEc:taf:applec:v:30:y:1998:i:12:p:1549-1555

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Citations

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Cited by:
  1. Goodwin, Barry K. & Bruer, Shanna, 2003. "An Empirical Analysis Of Farm Structure And Off-Farm Work Decisions," 2003 Annual meeting, July 27-30, Montreal, Canada 22164, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Ashok Mishra & Barry Goodwin, 2006. "Revenue insurance purchase decisions of farmers," Applied Economics, Taylor & Francis Journals, vol. 38(2), pages 149-159.
  3. Siudek, Tomasz & Zawojska, Aldona, 2011. "Relationship of Development and Fiscal Indicators with Agricultural Producer Support in the OECD Economies," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 116009, European Association of Agricultural Economists.
  4. Bhaumik, Sumon K. & Dimova, Ralitza & Nugent, Jeffrey B., 2006. "Pulls, Pushes and Entitlement Failures in Labor Markets: Does the State of Development Matter?," IZA Discussion Papers 2258, Institute for the Study of Labor (IZA).
  5. Mishra, Ashok K. & Paudel, Krishna P., 2008. "Policy Reform and Off-farm Labor Supply by Operators in the Delta Region: A," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6725, Southern Agricultural Economics Association.
  6. Nikolaj Malchow-M´┐Żller & Michael Svarer, 2005. "Wage - labour activities by agricultural households in Nicaragua," Journal of Development Studies, Taylor & Francis Journals, vol. 41(7), pages 1221-1246.
  7. Chang, Hung-Hao & Mishra, Ashok, 2008. "Impact of off-farm labor supply on food expenditures of the farm household," Food Policy, Elsevier, vol. 33(6), pages 657-664, December.
  8. Bjornsen, Hild-Marte & Mishra, Ashok K., 2012. "Off-farm Employment and Farming Efficiency in Modern Agriculture: A Dynamic Panel Analysis," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124742, Agricultural and Applied Economics Association.

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