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Registros recuperados: 30
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Agricultural Profits and Farm Household Wealth: A Farm-level Analysis Using Repeated Cross Sections AgEcon
Blank, Steven C.; Erickson, Kenneth W.; Nehring, Richard F.; Hallahan, Charles B..
This study examines the relationship between agricultural profits and farm household wealth across locations and farm sizes in U.S. agriculture. A multiperiod household model is used to develop hypotheses for testing. Results indicate that farmland has out-performed nonfarm investments over the past decade. Thus, households may want to keep their farmland to build wealth, even if it requires them to earn off-farm income. The analysis implies that decision will be made based on farm household wealth factors having little to do with agriculture.
Tipo: Journal Article Palavras-chave: Farm household; Off-farm income; Production profits; Wealth; Agribusiness; Demand and Price Analysis; Farm Management; Risk and Uncertainty; Q12; Q14.
Ano: 2009 URL: http://purl.umn.edu/48749
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Agricultural Household Hedging With Off-Farm Income AgEcon
Blank, Steven C.; Erickson, Kenneth W..
Tipo: Journal Article Palavras-chave: Agricultural Finance; Risk and Uncertainty.
Ano: 2007 URL: http://purl.umn.edu/92863
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Rates of Return in the Farm and Nonfarm Sectors: How Do They Compare? AgEcon
Erickson, Kenneth W.; Moss, Charles B.; Mishra, Ashok K..
This study examines the return on agricultural assets relative to nonfinancial corporate assets in the general economy using aggregate bureau of Economic Analysis data. Our results indicate that the rate of return on nonfarm assets dominates the rate of return on agricultural assets. The average rate of return on nonfarm assets is higher than the average rate of return on farm assets, and the variance of the rate of return on nonfarm assets is lower than the variance of the rate of return on farm assets. Furthermore, the rate of return on agricultural assets only exceeds the rate of return in the nonfarm sector in 1992.
Tipo: Journal Article Palavras-chave: Farm sector accounting; Nonfarm income; Nonfarm sector; Rate of return; Returns to farm assets; Q14; Q18.
Ano: 2004 URL: http://purl.umn.edu/43477
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Off-farm Income and Risky Investments: What Happens to Farm and Nonfarm Assets? AgEcon
Andersson, Hans; Ramaswami, Bharat; Moss, Charles B.; Erickson, Kenneth W.; Hallahan, Charles B.; Nehring, Richard F..
Off-farm work improves and reduces the riskiness of household income. Theoretical analyses reveal that the level and riskiness of off-farm income affect demand for farm/nonfarm investments. A two-limit Tobit model is estimated using ARMS data for 1996-2003. The impact on investment behaviour is evaluated.
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2005 URL: http://purl.umn.edu/19480
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An Error-Components Three-Stage Least-Squares Model of Investment Allocation by Farm Households AgEcon
Davies, Stephen P.; Erickson, Kenneth W.; Vickner, Steven S.; Hoag, Dana L.; Nehring, Richard F..
This paper is an assessment of patterns of investment by farm households via an econometric model adapted from a land allocation approach of Holt (1999). This analysis will shed light on the importance of different classes of assets to farm household well-being, and show the reaction of farm households to a variety of market, international and government effects.
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2005 URL: http://purl.umn.edu/19249
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Off-farm Income and Investments in Farm Assets: A Double Hurdle Approach AgEcon
Harris, James Michael; Blank, Steven C.; Erickson, Kenneth W.; Hallahan, Charles B..
The farm household structure is a complex set of inter-relationships between and among a variety of internal and external factors involving consumption, investment, and income-earning activities. In this paper we use ARMS data to explore the contribution of off-farm income to the viability of the farm business. We focus on the link between off-farm income and farm investment and whether off-farm income drives on-farm investment. The results indicate the importance of farm characteristics such as type, size, and location on the probability of investment but lead us to reject the hypothesis that off farm income is driving farm investment. Further research will be needed to further unweave some of the complex relationships involved in the farm household...
Tipo: Conference Paper or Presentation Palavras-chave: Off-farm income; Farm investment; Double hurdle; Agricultural Finance; Financial Economics; D1; J2; Q12.
Ano: 2010 URL: http://purl.umn.edu/61531
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BOOK REVIEW: DUNCAN, MARVIN AND JEROME M. STARE, EDITORS. FINANCING AGRICULTURE INTO THE TWENTY-FIRST CENTURY AgEcon
Erickson, Kenneth W..
Tipo: Journal Article Palavras-chave: Teaching/Communication/Extension/Profession.
Ano: 2000 URL: http://purl.umn.edu/15317
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THE STRUCTURE, PERFORMANCE, AND SUSTAINABILITY OF AGRICULTURE IN THE MOUNTAIN REGION AgEcon
Erickson, Kenneth W.; Hoppe, Robert A.; Dubman, Robert W..
Farmers in the Mountain Region-in both metro and nonmetro areas-face growth in population and nonfarm employment that affects land use and how farmers operate their businesses. Even in remote locations, people moving to amenity areas may result in farmers changing their operations. Sustainable agriculture, already practiced by Mountain Region farmers to some extent, may help farming to continue. Nonfarm people also have an interest in the continuation of agriculture and the adaptation of sustainable practices, in order to help preserve the amenities that make the region attractive to migrants. Growth in the region does provide some benefits to farmers, however. Growth can help keep the value of farmland up through nonfarm demand for land. In...
Tipo: Conference Paper or Presentation Palavras-chave: Production Economics.
Ano: 2002 URL: http://purl.umn.edu/36541
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A Translog Cost Function Analysis of U.S. Agriculture: 1948-1999 AgEcon
Ball, V. Eldon; Nehring, Richard F.; Moss, Charles B.; Erickson, Kenneth W..
This study examines the implications of the short-run specification of the standard, static translog cost function along with the possible implications of non-stationarity by estimating a dynamic translog cost specification complete with dynamic share equations for the U.S. using an empirical approach developed by Urga and Walters (2003). We compare the results of the static, long-run model with those of a dynamic, short-run error-correction model in terms of 1) significance of the parameter estimates, and 2) consistency with economic theory.
Tipo: Conference Paper or Presentation Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2003 URL: http://purl.umn.edu/35968
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The Present Value Model, Farmland Prices and Structural Breaks AgEcon
Gutierrez, Luciano; Erickson, Kenneth W.; Westerlund, Joakim.
We review the constant discount rate present value model of farmland prices using non-stationary panel data analysis. We use panel unit root and cointegration analysis to test if the present value model holds for a sample of 31 U.S. States covering the period 1960-2000. Preliminary results indicate that farmland prices and cash rents are non-stationary and non-cointegrated assuming a constant discount rate. The absence of cointegration may be due to the presence of a regime shift representing a time-varying discount rate. To accommodate this possibility, we introduce new panel cointegration tests that allow for unknown regime shifts in the cointegration relationship. The results suggest that the cointegration hypothesis cannot be rejected if there is a...
Tipo: Conference Paper or Presentation Palavras-chave: Farmland prices; Present value model; Non-stationary panel data analysis; Regime shift; Q24; Land Economics/Use; C22; C23; G12.
Ano: 2005 URL: http://purl.umn.edu/24702
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Agricultural Profits and Farm Household Wealth: A Farm-level and Cross-sectional Analysis AgEcon
Blank, Steven C.; Erickson, Kenneth W.; Nehring, Richard F.; Hallahan, Charles B..
This study examines the relationship between agricultural profits and farm household wealth across locations and farm sizes in U.S. agriculture. Farmland has out-performed non-farm investments over the past decade. Thus, households may want to keep their farmland to build wealth, even if it requires them to earn off-farm income.
Tipo: Conference Paper or Presentation Palavras-chave: Land Economics/Use.
Ano: 2006 URL: http://purl.umn.edu/21436
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Assessing Economic and Environmental Impacts of Ethanol Production on Fertilizer Use in Corn Production AgEcon
Nehring, Richard F.; Vialou, Alexandre; Erickson, Kenneth W.; Sandretto, Carmen L..
The share of corn used in ethanol production has been growing rapidly. USDA predicts that more than 30 percent of the corn crop will be used for ethanol production in 2009/2010. Expanded corn acreage contributes to the application of more fertilizer and is likely to introduce a larger volume of nutrients into the environment. This study found that an increase in ethanol production is consistent with a significant increase in quality-adjusted fertilizer use in selected corn states.
Tipo: Conference Paper or Presentation Palavras-chave: Quality-adjusted fertilizer; Corn production; Ethanol; Excess nutrients; Crop Production/Industries; Environmental Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/6736
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Farm Wealth Inequality Within and Across States in the United States AgEcon
Erickson, Kenneth W.; Moss, Charles B.; Mishra, Ashok K..
This paper uses Theil's (1979) entropy-based measure of inequality and farm-level data to examine changes in farm business wealth (farm equity) of farm households. The farms associated with farm households are grouped by state into ten regions of the United States. The Theil entropy measure is then calculated and used to decompose total inequality of farm wealth into within-state and across-states (between states) inequalities for each region. Results show that since the enactment of the 1996 Federal Agricultural Improvement and Reform (FAIR) Act, inequality in farm wealth among farms within a state has decreased relative to the number of farms per state, across all regions. Further, most of the reduction in farm wealth inequality is attributed to...
Tipo: Journal Article Palavras-chave: Inequality; Theil's inequality; Farm wealth; Regional decomposition; Farm level; Farm household; Real estate assets; Inventories; Agricultural Finance.
Ano: 2006 URL: http://purl.umn.edu/10207
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Rating the Financial Health of U.S. Production Agriculture using Synthetic Credit Rating AgEcon
Wilson, Christine A.; Morehart, Mitchell J.; Featherstone, Allen M.; Hallahan, Charles B.; Erickson, Kenneth W.; Harris, James Michael; Williams, Robert P..
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness; Agricultural and Food Policy; Production Economics.
Ano: 2010 URL: http://purl.umn.edu/61776
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NEXT YEAR ON THE U.S. FARMLAND MARKET: AN INFORMATIONAL APPROACH AgEcon
Moss, Charles B.; Mishra, Ashok K.; Erickson, Kenneth W..
This paper formulates an information measure for changes in asset values and applies the formulation to farmland values in the United States for 1960-99. The results indicate that changes in asset values contained significant information following the Russian wheat sale in the early 1970s and the financial crisis in agriculture in the mid 1980s. Further, information about preceding year's asset value largely explains the regional distribution of current year's farmland values.
Tipo: Conference Paper or Presentation Palavras-chave: Land Economics/Use.
Ano: 2005 URL: http://purl.umn.edu/19186
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MODELING SUPPLY RESPONSE IN A MULTIPRODUCT FRAMEWORK REVISITED: THE NEXUS OF EMPIRICS AND ECONOMICS AgEcon
Ball, V. Eldon; Moss, Charles B.; Erickson, Kenneth W.; Nehring, Richard F..
This paper models supply response in U.S. agriculture using disaggregated output data and tests statistically key assumptions traditionally maintained in agricultural supply studies. Following Vasavada and Chambers; Shumway; and Ball, we use U.S.-level data, 1948-1999 to estimate a multiproduct supply response model for U.S. agriculture, and report our preliminary results.
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness.
Ano: 2003 URL: http://purl.umn.edu/21981
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Off-Farm Work and Economic Performance: Comparing Crop and Livestock Farms AgEcon
Fernandez-Cornejo, Jorge; Nehring, Richard F.; Erickson, Kenneth W..
This paper examines how off-farm work affects the economic performance of crop and (selected) livestock farms. It estimates returns to scale and technical efficiency following an input distance function approach and compares the relative performance of dairy and corn farm operator households with and without off-farm work. We use farm-level data from the USDA's ARMS survey for 1996-2005. The impact of off-farm work on scale and technical efficiency is examined from two viewpoints: first, the effect of off-farm work on the scale and technical efficiency of the farm business in the production of traditional commodities (farm-level perspective); second, the impact of off-farm work on scale and technical efficiency at the household level, considering both...
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management; Productivity Analysis.
Ano: 2007 URL: http://purl.umn.edu/9904
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Measuring and Analyzing Farm Financial Stress AgEcon
Harris, James Michael; Williams, Robert P.; Morehart, Mitchell J.; Erickson, Kenneth W.; Mishra, Ashok K..
The financial health of the agricultural economy has been excellent for the past few years, especially with farm income reaching record levels. However, the U.S. economy has experienced a recession and a credit crisis. Although the U.S. farm sector has been mostly shielded from the economic downturn, farm financial stress is still possible under current conditions. Are some U.S. farm businesses, especially those with term debt, poised to experience significant financial stress in 2010? We use the Agricultural Resource Management Survey (ARMS), sponsored jointly by USDA’s Economic Research Service (ERS) and National Agricultural Statistical Service, to help answer this question.
Tipo: Conference Paper or Presentation Palavras-chave: Off-farm income; Farm investment; Double hurdle; Agricultural Finance; Financial Economics; D1; J2.
Ano: 2010 URL: http://purl.umn.edu/61528
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Determinants of Farm Household Income Diversification in the United States: Evidence from Farm-Level Data AgEcon
Mishra, Ashok K.; Erickson, Kenneth W.; Harris, James Michael; Hallahan, Charles B.; Uematsu, Hiroki.
This study examines the determinants of income diversification of farm households in the United States. Farm households allocate their time between farm and off-farm activities to help stabilized household income (consumption). What characterizes those households who engage in off-farm activities? Is there any pattern over time? Using 1999, 2003 and 2007 farm-level data from the USDA’s Agricultural Resource Management Survey (ARMS), this study estimates intensity of off-farm income (or income diversification). The results show that older operators, full owners, and small farms have higher intensity of off-farm income in total household income. In contrast, dairy farms, vertically coordinated farms and farms located in the Southern and Pacific regions have...
Tipo: Journal Article Palavras-chave: Tobit; Income diversification; Vertical integration; Tenure; Farm households; Agricultural Finance; Consumer/Household Economics; D1; J2; Q12.
Ano: 2010 URL: http://purl.umn.edu/61632
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EFFECT OF DEBT SOLVENCY ON FARMLAND VALUES: A PANEL COINTEGRATION APPROACH AgEcon
Mishra, Ashok K.; Moss, Charles B.; Erickson, Kenneth W..
Farmland values in the United States represent a major component of the farm sector balance sheet. The linkage between farmland values and agricultural debt has typically been ignored in the literature. This paper attempts to make two contributions to our understanding of farmland prices. First, building on established literature, this study examines the role of debt solvency and government payments in farmland valuation. Second, from a methodological standpoint, this study incorporates both the nonstationarity dimension of farmland prices and the panel structure of the data relying on recent advances in econometric literature.
Tipo: Conference Paper or Presentation Palavras-chave: Land Economics/Use.
Ano: 2004 URL: http://purl.umn.edu/20261
Registros recuperados: 30
Primeira ... 12 ... Última
 

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