Measuring Farm Household Well-Being: Comparing Consumption and Income-based Measures

Carol Adaire Jones, Daniel Milkove and Laura Paszkiewicz

No 49355, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: This paper reports estimates of consumption-based measures of well-being for farm households based on new, specially-designed survey questions in USDA’s annual, nationally representative survey of farms, the Agricultural Resource Management Survey. With this new data, we show how patterns of consumption-smoothing relative to income levels differ between farm households versus all U.S. households, and between households of operators of large farms vs. “residential-lifestyle” farms, with limited exposure to farm income variability. We then show that the consumption measure provides a different perspective than income and wealth on the well-being of farm households relative to all U.S. households.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Pages: 52
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49355

DOI: 10.22004/ag.econ.49355

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