IDEAS home Printed from https://ideas.repec.org/p/ags/iapr02/15715.html
   My bibliography  Save this paper

Measures of Economic Status - Combining Income and Wealth into a Single Measure of the Potential Command Over Goods and Services

Author

Listed:
  • Hill, Berkeley

Abstract

The purpose of this paper is to stimulate discussion on the way that economists, statisticians and analysts treat the wealth of agricultural households and changes in that wealth not arising from production. The concept of "economic status" is revisited and the implications of using it when making comparisons of agricultural households with other groups in society is reviewed. A more explicit treatment of capital and wealth is proposed.

Suggested Citation

  • Hill, Berkeley, 2002. "Measures of Economic Status - Combining Income and Wealth into a Single Measure of the Potential Command Over Goods and Services," Workshop on the Farm Household-Firm Unit: Its Importance in Agriculture and Implications for Statistics, April 12-13,2002, Wye Campus, Imperial College 15715, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    • Handle: RePEc:ags:iapr02:15715
    DOI: 10.22004/ag.econ.15715
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/15715/files/cp02hi02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.15715?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bhatia, Kul B, 1972. "Capital Gains and the Aggregate Consumption Function," American Economic Review, American Economic Association, vol. 62(5), pages 866-879, December.
    2. Thomas A. Carlin & Edward I. Reinsel, 1973. "Combining Income and Wealth: An Analysis of Farm Family "Well-Being"," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(1), pages 38-44.
    3. repec:bla:revinw:v:16:y:1970:i:4:p:363-78 is not listed on IDEAS
    4. Kul B. Bhatia, 1971. "On Estimating Capital Gains in U. S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(3), pages 502-506.
    5. Harrison, Alan, 1975. "Farmers And Farm Businesses In England," Reading Agricultural Economics Archive 272792, University of Reading.
    6. Emanuel Melichar, 1979. "Capital Gains versus Current Income in the Farming Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1085-1092.
    7. Kul B. Bhatia, 1970. "Accrued Capital Gains, Personal Income And Saving In The United States, 1948–1964," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 16(4), pages 363-378, March.
    8. Wyn P. Grant & John T.S. Keeler (ed.), 2000. "Agricultural Policy," Books, Edward Elgar Publishing, volume 0, number 1655.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. El-Osta, Hisham S. & Morehart, Mitchell J., 2009. "Welfare Decomposition in the Context of the Life Cycle of Farm Operators: What Does a National Survey Reveal?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 38(2), pages 1-17, October.
    2. Hisham S. El‐Osta & Ashok K. Mishra & Mitchell J. Morehart, 2007. "Determinants of economic well‐being among U.S. farm operator households," Agricultural Economics, International Association of Agricultural Economists, vol. 36(3), pages 291-304, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lowenberg-DeBoer, James M., 1985. "The impact of farmland price changes on farm size, financial structure enterprise choice," ISU General Staff Papers 198501010800009722, Iowa State University, Department of Economics.
    2. Brake, John R. & Melichar, Emanuel, 1977. "Agricultural Finance and Capital Markets," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    3. J. S. Nix, 1990. "Aspects Of Farm Profitability: An Outmoded Concept? Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 265-291, September.
    4. Moore, Kevin Clare, 1985. "Predictive econometric modeling of the United States farmland market: an empirical test of the rational expectations hypothesis," ISU General Staff Papers 198501010800008872, Iowa State University, Department of Economics.
    5. Hill, Berkeley, 2003. "Rural Development Policies and Agricultural Adjustment," Policy Reform and Adjustment Workshop, October 23-25, 2003, Imperial College London, Wye Campus 15739, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    6. Carlberg, Jared G., 2002. "Effects Of Ownership Restrictions On Farmland Values In Saskatchewan," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 34(2), pages 1-10, August.
    7. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    8. Swinnen, Johan F. M. & Banerjee, Anurag N. & Gorter, Harry de, 2001. "Economic development, institutional change, and the political economy of agricultural protection: An econometric study of Belgium since the 19th century," Agricultural Economics, Blackwell, vol. 26(1), pages 25-43, October.
    9. Li, Xin, 2016. "The Farmland Valuation Revisited," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 4(2), pages 1-14, April.
    10. repec:zbw:inwedp:582015 is not listed on IDEAS
    11. Oltmer, Katrin & Florax, Raymond J.G.M., 2001. "Impacts Of Agricultural Policy Reform On Land Prices: A Quantitative Analysis Of The Literature," 2001 Annual meeting, August 5-8, Chicago, IL 20507, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Gustafson, Cole R., 1986. "Measuring The Productivity Of Capital In United States Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(2), pages 1-9, December.
    13. Fiske, John Robery, 1983. "The impact of financial constraints on the local price of farm land," ISU General Staff Papers 198301010800008710, Iowa State University, Department of Economics.
    14. Tranter, R.B. & Swinbank, A. & Jones, P.J. & Banks, C.J. & Salter, A.M., 2011. "Assessing the potential for the uptake of on-farm anaerobic digestion for energy production in England," Energy Policy, Elsevier, vol. 39(5), pages 2424-2430, May.
    15. Centre for Agricultural Strategy, 1976. "Land for agriculture," Centre for Agricultural Strategy - Papers and Reports 337516, University of Reading.
    16. Mykel R. Taylor & Gary W. Brester, 2005. "Noncash Income Transfers and Agricultural Land Values," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 27(4), pages 526-541.
    17. Newell, Richard G. & Papps, Kerry L. & Sanchirico, James N., 2005. "Asset Pricing in Created Markets for Fishing Quotas," Discussion Papers 10639, Resources for the Future.
    18. Kumar, Shiv & Chand, Puran & Dabas, J.P.S. & Singh, Harvinder, 2010. "Characteristics and Determinants of Contract Design of Wheat Seed Farming in India: A Basis of Decision Making," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 65(4), pages 1-18.
    19. Spurlock, Stanley R., 1985. "Discussion: Issues In Agricultural Land Markets: An Empirical Perspective," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-3, July.
    20. Shockley, Jordan M. & Osborne, William A. & Dillon, Carl R. & Pierce, Jerry S., 2016. "A Two-Tiered Benchmarking Analysis for Cost Management," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015, pages 1-14.
    21. Chavas, Jean-Paul & Shumway, C. Richard, 1982. "A Pooled Time-Series Cross-Section Analysis Of Land Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-12, July.

    More about this item

    Keywords

    Consumer/Household Economics;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:iapr02:15715. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://agadjust.aers.psu.edu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.