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Effects On Farm Incomes And Rural Labour Of A Relative Increase In Wages

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  • Ryan, James G.
  • Duncan, Ronald C.

Abstract

We use the concept of the elasticity of farm incomes with respect to changes in input prices to analyse the effects of a large increase in relative wages on selected measures of farm incomes. In order to estimate the elasticity of farm incomes we have to estimate elasticities and cross-elasticities of demand and supply for farm labour and capital. The estimates of elasticity of demand for operator and hired labour allow us to calculate the impact of a rise in wages on numbers of farmers and hired labour employed in agriculture.

Suggested Citation

  • Ryan, James G. & Duncan, Ronald C., 1974. "Effects On Farm Incomes And Rural Labour Of A Relative Increase In Wages," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 18(3), pages 1-15, December.
    • Handle: RePEc:ags:ajaeau:22893
    DOI: 10.22004/ag.econ.22893
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    References listed on IDEAS

    as
    1. Zvi Griliches, 1959. "The Demand for Inputs in Agriculture and a Derived Supply Elasticity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 41(2), pages 309-322.
    2. Luther Tweeten & Leroy Quance, 1971. "The Impact Of Input Price Inflation On The United States Farming Industry," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 19(3), pages 35-49, November.
    3. Glau, T.E., 1971. "The Cost-Price Squeeze On Australian Farm Income," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 15(1), pages 1-19, April.
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    Cited by:

    1. McKay, Lloyd & Lawrence, Denis & Vlastuin, Chris, 1980. "Input Demand and Substitution in the Australian Sheep Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(02), pages 1-14, August.
    2. Vincent, David P., 1977. "Factor Substitution In Australian Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 21(2), pages 1-11, August.
    3. Frank W. Agbola & Stephen R. Harrison, 2005. "Empirical investigation of investment behaviour in Australia's pastoral region," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 47-62, March.
    4. Pandey, Sushil & Piggott, Roley R. & MacAulay, T. Gordon, 1982. "The Elasticity Of Aggregate Australian Agricultural Supply: Estimates And Policy Implications," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(3), pages 1-18, December.
    5. Freebairn, John W., 1981. "Assessing Some Effects Of Inflation On The Agricultural Sector," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(2), pages 1-16, August.
    6. Bhati, U.N., 1980. "The Demand for Hired Labour on Australian Sheep Farms," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(02), pages 1-12, August.

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