IDEAS home Printed from https://ideas.repec.org/p/ags/iapr02/15715.html

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

Author

Listed:
  • 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
    DOI: 10.22004/ag.econ.15715
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/15715/files/cp02hi02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.15715?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. repec:bla:revinw:v:16:y:1970:i:4:p:363-78 is not listed on IDEAS
    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. Harrison, Alan, 1975. "Farmers And Farm Businesses In England," Reading Agricultural Economics Archive 272792, University of Reading.
    4. Bhatia, Kul B, 1972. "Capital Gains and the Aggregate Consumption Function," American Economic Review, American Economic Association, vol. 62(5), pages 866-879, December.
    5. 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.
    6. Thomas A. Carlin & Edward I. Reinsel, 1973. "Combining Income and Wealth: An Analysis of Farm Family "Well-Being"," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(1), pages 38-44.
    7. Kul B. Bhatia, 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, March.
    8. Wyn P. Grant & John T.S. Keeler (ed.), 2000. "Agricultural Policy," Books, Edward Elgar Publishing, volume 0, number 1655, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. El-Osta, Hisham S. & Morehart, Mitchell J., 2009. "Welfare Decomposition in the Context of the Life Cycle of Farm Operators: What Does a National Survey Reveal?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 38(2), pages 1-17, October.
    2. Hisham S. El‐Osta & Ashok K. Mishra & Mitchell J. Morehart, 2007. "Determinants of economic well‐being among U.S. farm operator households," Agricultural Economics, International Association of Agricultural Economists, vol. 36(3), pages 291-304, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lowenberg-DeBoer, James M., 1985. "The impact of farmland price changes on farm size, financial structure enterprise choice," ISU General Staff Papers 198501010800009722, Iowa State University, Department of Economics.
    2. J. S. Nix, 1990. "Aspects Of Farm Profitability: An Outmoded Concept? Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 265-291, September.
    3. Brake, John R. & Melichar, Emanuel, 1977. "Agricultural Finance and Capital Markets," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    4. Moore, Kevin Clare, 1985. "Predictive econometric modeling of the United States farmland market: an empirical test of the rational expectations hypothesis," ISU General Staff Papers 198501010800008872, Iowa State University, Department of Economics.
    5. Hill, Berkeley, 2003. "Rural Development Policies and Agricultural Adjustment," Policy Reform and Adjustment Workshop, October 23-25, 2003, Imperial College London, Wye Campus 15739, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    6. Carlberg, Jared G., 2002. "Effects Of Ownership Restrictions On Farmland Values In Saskatchewan," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 34(2), pages 1-10, August.
    7. Goetz, Stephen J., "undated". "Single- and Multi-Dimensional Theil Measures of Inequality: An Application to Farm Households," 1991 Annual Meeting, August 4-7, Manhattan, Kansas 271278, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    9. Titus O. Awokuse & Joshua M. Duke, 2006. "The Causal Structure of Land Price Determinants," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(2), pages 227-245, June.
    10. Swinnen, Johan F. M. & Banerjee, Anurag N. & Gorter, Harry de, 2001. "Economic development, institutional change, and the political economy of agricultural protection: An econometric study of Belgium since the 19th century," Agricultural Economics, Blackwell, vol. 26(1), pages 25-43, October.
    11. Li, Xin, 2016. "The Farmland Valuation Revisited," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 4(2), pages 1-14, April.
    12. Erickson, Kenneth W. & Featherstone, Allen M. & Subedi, Dipak & Nehring, Richard F. & Harris, James Michael, "undated". "How Fluctuations in Farm and Off-Farm Income Could Affect the Financial Performance of U.S. Farm Operator Dairy Farms: A Farm-level Analysis," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258488, Agricultural and Applied Economics Association.
    13. Barkema, Alan Dean, 1985. "Farm survival under uncertainty," ISU General Staff Papers 1985010108000017535, Iowa State University, Department of Economics.
    14. Rausser, Gordon C., 1985. "Macroeconomic environment for U.S. agricultural policy," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt2561m38d, Department of Agricultural & Resource Economics, UC Berkeley.
    15. Oltmer, Katrin & Florax, Raymond J.G.M., 2001. "Impacts Of Agricultural Policy Reform On Land Prices: A Quantitative Analysis Of The Literature," 2001 Annual meeting, August 5-8, Chicago, IL 20507, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    16. Joo, Hyunjeong & Mishra, Ashok, 2016. "Impact of Off-Farm Labor Supply and Government Subsidy on Korean Farmland Value," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235748, Agricultural and Applied Economics Association.
    17. Falk, Barry, 1990. "Time Varying Discount Rates and Rent-Price Ratios In Farmland Markets," ISU General Staff Papers 199006010700001213, Iowa State University, Department of Economics.
    18. Runge, C. Ford & Houck, James P., 1987. "Linkages Between Agricultural Trade And Resource Quality: A Conceptual Overview," Staff Papers 13249, University of Minnesota, Department of Applied Economics.
    19. Adrian Kay & Robert Ackrill, 2008. "Institutional change in the international governance of agriculture: a revised account," NBS Discussion Papers in Economics 2008/4, Economics, Nottingham Business School, Nottingham Trent University.
    20. Musser, Wesley, 1986. "Capital Budgeting Analysis Of Uncertainty In Irrigation Investments," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 272003, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.

    More about this item

    Keywords

    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:iapr02:15715. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://agadjust.aers.psu.edu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.