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Measures of Economic Status - Combining Income and Wealth into a Single Measure of the Potential Command Over Goods and Services

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  • Hill, Berkeley

Abstract

The purpose of this paper is to stimulate discussion on the way that economists, statisticians and analysts treat the wealth of agricultural households and changes in that wealth not arising from production. The concept of "economic status" is revisited and the implications of using it when making comparisons of agricultural households with other groups in society is reviewed. A more explicit treatment of capital and wealth is proposed.

Suggested Citation

  • Hill, Berkeley, 2002. "Measures of Economic Status - Combining Income and Wealth into a Single Measure of the Potential Command Over Goods and Services," Workshop on the Farm Household-Firm Unit: Its Importance in Agriculture and Implications for Statistics, April 12-13, 2002, Wye Campus,Imperial College 15715, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
  • Handle: RePEc:ags:iapr02:15715
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    File URL: http://purl.umn.edu/15715
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    References listed on IDEAS

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    1. Bhatia, Kul B, 1970. "Accrued Capital Gains, Personal Income and Saving in the United States, 1948-1964," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 16(4), pages 363-378, December.
    2. Kul B. Bhatia, 1971. "On Estimating Capital Gains in U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(3), pages 502-506.
    3. Bhatia, Kul B, 1972. "Capital Gains and the Aggregate Consumption Function," American Economic Review, American Economic Association, vol. 62(5), pages 866-879, December.
    4. Emanuel Melichar, 1979. "Capital Gains versus Current Income in the Farming Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1085-1092.
    5. Wyn P. Grant & John T.S. Keeler (ed.), 2000. "Agricultural Policy," Books, Edward Elgar Publishing, volume 0, number 1655, April.
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    Keywords

    Consumer/Household Economics;

    Statistics

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