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Economic Well-Being of Farm Households

Author

Listed:
  • Jones, Carol Adaire
  • El-Osta, Hisham S.
  • Green, Robert C.

Abstract

Farm subsidy programs were introduced in the 1930s largely due to concern for chronically low, and highly variable, incomes of US farm households. Today commodity-based support programs are still prominent, though income and wealth of the average farm household now exceed that of the average nonfarm households - by a large margin. Farm income continues to be highly variable, but the small set of farm households most at risk for income variability - because farm income represents more than one-third of household income - are those operating large farms. And they have substantial net worth, which cushions uncertain farm income.

Suggested Citation

  • Jones, Carol Adaire & El-Osta, Hisham S. & Green, Robert C., 2006. "Economic Well-Being of Farm Households," Economic Brief 34095, United States Department of Agriculture, Economic Research Service.
  • Handle: RePEc:ags:uerseb:34095
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    File URL: http://purl.umn.edu/34095
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    Citations

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    Cited by:

    1. Browne, Natalie & Kingwell, Ross & Behrendt, Ralph & Eckard, Richard, 2013. "The relative profitability of dairy, sheep, beef and grain farm enterprises in southeast Australia under selected rainfall and price scenarios," Agricultural Systems, Elsevier, vol. 117(C), pages 35-44.
    2. Akinfenwa, Samson O. & Qasmi, Bashir A., 2014. "Ethanol, the Agricultural Economy, and Rural Incomes in the United States: A Bivariate Econometric Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 43(2), August.
    3. Elanor Starmer, Aimee Witteman and Timothy A. Wise, "undated". "06-03 "Feeding the Factory Farm: Implicit Subsidies to the Broiler Chicken Industry"," GDAE Working Papers 06-03, GDAE, Tufts University.
    4. Hung-Hao Chang & Dayton M. Lambert & Ashok K. Mishra, 2008. "Does participation in the conservation reserve program impact the economic well-being of farm households?," Agricultural Economics, International Association of Agricultural Economists, vol. 38(2), pages 201-212, March.
    5. Hutchings, Timothy R. & Nordblom, Thomas L., 2011. "A financial analysis of the effect of the mix of crop and sheep enterprises on the risk profile of dryland farms in south-eastern Australia," AFBM Journal, Australasian Farm Business Management Network, vol. 8(1).
    6. Hutchings, T.R., 2013. "Financial risk on dryland farms in south-eastern Australia," Dissertations-Doctoral 204434, AgEcon Search.
    7. Akinfenwa, Samson O. & Qasmi, Bashir A., 0. "Ethanol, the Agricultural Economy, and Rural Incomes in the United States: A Bivariate Econometric Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association.
    8. Pardey, Philip G. & Koo, Bonwoo & Drew, Jennifer & Nottenburg, Carol, 2012. "The Evolving Landscape of IP Rights for Plant Varieties in the United States, 1930-2008," Staff Papers 119346, University of Minnesota, Department of Applied Economics.

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