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Economic Well-Being of Farm Households

Author

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  • Jones, Carol Adaire
  • El-Osta, Hisham S.
  • Green, Robert C.

Abstract

Farm subsidy programs were introduced in the 1930s largely due to concern for chronically low, and highly variable, incomes of US farm households. Today commodity-based support programs are still prominent, though income and wealth of the average farm household now exceed that of the average nonfarm households - by a large margin. Farm income continues to be highly variable, but the small set of farm households most at risk for income variability - because farm income represents more than one-third of household income - are those operating large farms. And they have substantial net worth, which cushions uncertain farm income.

Suggested Citation

  • Jones, Carol Adaire & El-Osta, Hisham S. & Green, Robert C., 2006. "Economic Well-Being of Farm Households," Economic Brief 34095, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerseb:34095
    DOI: 10.22004/ag.econ.34095
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    Cited by:

    1. Elanor Starmer & Aimee Witteman & Timothy A. Wise, "undated". "Feeding the Factory Farm: Implicit Subsidies to the Broiler Chicken Industry," GDAE Working Papers 06-03, GDAE, Tufts University.
    2. Bruce Gardner & Barry Goodwin & Mary Ahearn, 2007. "Economic statistics and U.S. agricultural policy," Agricultural Economics, International Association of Agricultural Economists, vol. 37(s1), pages 237-248, December.
    3. Browne, Natalie & Kingwell, Ross & Behrendt, Ralph & Eckard, Richard, 2013. "The relative profitability of dairy, sheep, beef and grain farm enterprises in southeast Australia under selected rainfall and price scenarios," Agricultural Systems, Elsevier, vol. 117(C), pages 35-44.
    4. Hutchings, Timothy R. & Nordblom, Thomas L., 2011. "A financial analysis of the effect of the mix of crop and sheep enterprises on the risk profile of dryland farms in south-eastern Australia," AFBM Journal, Australasian Farm Business Management Network, vol. 8(1), pages 1-23, October.
    5. Elanor Starmer & Timothy A. Wise, "undated". "Living High on the Hog: Factory Farms, Federal Policy, and the Structural Transformation of Swine Production," GDAE Working Papers 07-04, GDAE, Tufts University.
    6. Akinfenwa, Samson O. & Qasmi, Bashir A., 2014. "Ethanol, the Agricultural Economy, and Rural Incomes in the United States: A Bivariate Econometric Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 0, pages 1-15.
    7. Barry K. Goodwin, 2008. "The Incidence and Implications of Binding Farm Program Payment Limits," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(3), pages 554-571.
    8. Jones, Carol Adaire & Milkove, Daniel & Paszkiewicz, Laura, 2009. "Measuring Farm Household Well-Being: Comparing Consumption and Income-based Measures," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49355, Agricultural and Applied Economics Association.
    9. Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 59404, United States Department of Agriculture, Economic Research Service.
    10. Hung-Hao Chang & Dayton M. Lambert & Ashok K. Mishra, 2008. "Does participation in the conservation reserve program impact the economic well-being of farm households?," Agricultural Economics, International Association of Agricultural Economists, vol. 38(2), pages 201-212, March.
    11. Akinfenwa, Samson O. & Qasmi, Bashir A., 2014. "Ethanol, the Agricultural Economy, and Rural Incomes in the United States: A Bivariate Econometric Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 43(2), pages 1-15, August.
    12. Pardey, Philip G. & Koo, Bonwoo & Drew, Jennifer & Nottenburg, Carol, 2012. "The Evolving Landscape of IP Rights for Plant Varieties in the United States, 1930-2008," Staff Papers 119346, University of Minnesota, Department of Applied Economics.

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    Keywords

    Consumer/Household Economics;

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