Farm Income Variability and the Supply of Off‐Farm Labor

8 Pages Posted: 31 Mar 2020

See all articles by Ashok K. Mishra

Ashok K. Mishra

Arizona State University (ASU) - W.P. Carey School of Business

Barry K. Goodwin

North Carolina State University

Date Written: August 1997

Abstract

If farmers are risk averse, greater farm income variability should increase off‐farm labor supply. This effect is confirmed for a sample of Kansas farmers. Off‐farm employment of farmers and their spouses is also found to be significantly influenced by farm experience, off‐farm work experience, farm size, leverage, efficiency, and farm‐specific education. In addition, farm operators and spouses who receive significant income support through government farm programs are less likely to work off the farm. This may suggest that policy changes reducing farm income support payments may increase off‐farm employment of farmers and their spouses.

Keywords: income variability, off‐farm labor supply, risk, J220, J430, Q120

Suggested Citation

Mishra, Ashok K. and Goodwin, Barry K., Farm Income Variability and the Supply of Off‐Farm Labor (August 1997). American Journal of Agricultural Economics, Vol. 79, Issue 3, pp. 880-887, 1997, Available at SSRN: https://ssrn.com/abstract=3563719 or http://dx.doi.org/10.2307/1244429

Ashok K. Mishra (Contact Author)

Arizona State University (ASU) - W.P. Carey School of Business ( email )

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Barry K. Goodwin

North Carolina State University

Hillsborough Street
Raleigh, NC 27695
United States

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