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Farm Household Well-Being: Comparing Consumption- and Income-Based Measures

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  • Jones, Carol Adaire
  • Milkove, Daniel
  • Paszkiewicz, Laura

Abstract

Household economic well-being can be gauged by the financial resources (income/ wealth) available to the household or by the standard of living enjoyed by household members (consumption). Based on responses to USDA’s annual Agricultural Resource Management Survey (ARMS), a joint effort by the Economic Research Service (ERS) and the USDA National Agricultural Statistics Service, ERS has long published estimates of farm household income and wealth. This report presents, for the first time, estimates of consumption-based measures of well-being for farm households based on new questions in ARMS. The consumption measure provides a different perspective from income or wealth on farm households’ well-being relative to that of all U.S. households.

Suggested Citation

  • Jones, Carol Adaire & Milkove, Daniel & Paszkiewicz, Laura, 2010. "Farm Household Well-Being: Comparing Consumption- and Income-Based Measures," Economic Research Report 58299, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersrr:58299
    DOI: 10.22004/ag.econ.58299
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    References listed on IDEAS

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    Cited by:

    1. Johane Dikgang & Edwin Muchapondwa, 2016. "The Effect of Land Restitution on Poverty Reduction among the Khomani San “Bushmen” in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 84(1), pages 63-80, March.
    2. Głowicka-Wołoszyn, Romana & Stanisławska, Joanna & Wołoszyn, Andrzej & Woźniak, Monika, 2025. "Zmiany Sytuacji Finansowej Wiejskich I Miejskich Gospodarstw Domowych W Latach 2015-2022," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2025(1).
    3. Jeffrey Thompson & Timothy M. Smeeding, 2010. "Recent Trends in the Distribution of Income: Labor, Wealth and More Complete Measures of Well Being," Working Papers wp225, Political Economy Research Institute, University of Massachusetts at Amherst.

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