Journal
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
Volume 91, Issue 3, Pages 569-580Publisher
WILEY-BLACKWELL PUBLISHING, INC
DOI: 10.1111/j.1467-8276.2009.01257.x
Keywords
agricultural subsidies; consumption; pseudo-panels
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Farm households are economic agents whose income is derived from farm, off-farm, and government sources. This article uses farm-level data from the Agricultural Resource Management Survey (ARMS) and recent advances in the econometric theory of dynamic pseudo-panels to show that farm households consume various sources of income differently at the margin. Particular attention is given to a specific type of lump-sum government transfer payment intended to be decoupled from (independent of) farm production decisions. The results suggest that relatively decoupled government subsidies have a greater marginal effect on farm household consumption than subsidies that are tied to market conditions.
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