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| O'Mara, L. Paul; Mullen, John D.; Powell, Roy A.; Reece, B.F.. |
| Over recent years there has been marked instability in incomes earned from farming. The instability, which affects the economy generally, is transmitted partly through the consumption spending of farmers. A conventional view of the short-run marginal propensity to consume of farmers, supported by some analyses of aggregate data, is that it is zero. It is argued that this view is implausible on theoretical grounds, that the analysis giving rise to this view used aggregate data which contained serious flaws, and that evidence from micro-studies and other macro level analyses present a more realistic assessment that the short-run mpc of farmers is not zero but likely to be lower than that of non-farmers. A non-zero mpc has implications for how the farm sector... |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics. |
| Ano: 1988 |
URL: http://purl.umn.edu/12552 |
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| Mullen, John D.; Powell, Roy A.; Reece, B.F.. |
| The way in which the consumption of farm families is adjusted to fluctuations in income has important implications at the national, regional and farm levels. In this paper, hypotheses about the consumption of farm families are examined using data from 16 families in a wheat-sheep region of New South Wales for the eight-year period 1968/69 to 1975/76. The results of the study indicate that lagged effects are important in explaining consumption by farm households. It was not possible to partition these lag effects between partial adjustment and normal income influences. Estimates of the short-run (one-year) marginal propensity to consume (mpc) were quite low, ranging from 0.13 to 0.16. The best estimates of the long-run mpc ranged from 0.19 to 0.25. |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics. |
| Ano: 1980 |
URL: http://purl.umn.edu/22905 |
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