A new index measure and its use for describing US agriculture: Some initial findings and suggestions for monitoring and reporting
A new indicator of farm income dependence is developed for identifying differences in resource allocation among farm households. Analysis of farm household data between 1996 and 2006 identifies the index as being more informative and indicative of structural responses than the typical reliance on shares of farm income in the total for the representative household. Extensions of the index and complementarities with other measures are straightforward and offer potential valuable insight into coming trends in U.S. agriculture as the farm household population responds to higher prices induced by the biofuel boom.
|Date of creation:||2015|
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- 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.
- Gardner, Bruce L, 1992. "Changing Economic Perspectives on the Farm Problem," Journal of Economic Literature, American Economic Association, vol. 30(1), pages 62-101, March.
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