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Stability of Farm Income and the Role of Nonfarm Income in U.S. Agriculture

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  • Ashok K. Mishra
  • Carmen L. Sandretto

Abstract

This study measures the variability in real net farm income in the U.S. agricultural sector and per farm and determines if variability has diminished over 1933 to 1999. Second, the role of nonfarm income in reducing the variability in total farm household income is examined. Results indicate that the variability in real net farm income in the sector and at the farm level has not diminished and that nonfarm income has helped to reduce the variability in total farm household income.

Suggested Citation

  • Ashok K. Mishra & Carmen L. Sandretto, 2002. "Stability of Farm Income and the Role of Nonfarm Income in U.S. Agriculture," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 24(1), pages 208-221.
    • Handle: RePEc:oup:revage:v:24:y:2002:i:1:p:208-221.
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    File URL: http://hdl.handle.net/10.1111/1058-7195.00014
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