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Report of Task Force on Farm Income Estimates

Author

Listed:
  • Brandow, George
  • Budd, Edward C.
  • Farris, Paul L.
  • Grant, J. Richard
  • Haidacher, Richard
  • Hildreth, R. J. (Chairman)
  • Penn, J. B.
  • Upchurch, M. L.
  • Young, Allen H.

Abstract

Excerpts from the report Introduction: The USDA began to estimate and report farm income more than 45 years ago. These estimates were intended initially to measure the economic health of farmers. They were independent of national income and product accounts, having been developed some years before the Department of Commerce took over national income measurement from the National Bureau of Economic Research. Farm income estimates have been useful over the years to policy makers and economic analysts. Thus, in undertaking its assignment, the Task Force on ERS Farm Income Estimates, was aware of past accomplishments as well as the need for improvements. The task force was appointed by Quentin M. West, Administrator of the Economic Research Service, USDA. The responsibility accepted by the task force was to review methods and techniques for estimation of farm income statistics in ERS. More specifically the objectives included: 1. Review and evaluation of data in terms of quality and relevancy. 2. Review and evaluation of current farm income estimating procedures and appraisal of alternative methods for making estimates. 3. Review and evaluation of consistency of farm income estimates with related series including sequence and time of input to national income accounts and other aggregate statistical series. 4. Recommendation for improvement of accuracy in estimating farm income.

Suggested Citation

  • Brandow, George & Budd, Edward C. & Farris, Paul L. & Grant, J. Richard & Haidacher, Richard & Hildreth, R. J. (Chairman) & Penn, J. B. & Upchurch, M. L. & Young, Allen H., 1975. "Report of Task Force on Farm Income Estimates," Miscellaneous Publications 334257, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:334257
    DOI: 10.22004/ag.econ.334257
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