Simulating the Impact of Input-Price Inflation on Farm Income

Leroy Quance and Luther Tweeten

Journal of Agricultural and Applied Economics, 1971, vol. 3, issue 1, 51-57

Abstract: A 1964 survey of 500 wheat producers in Oklahoma and Kansas revealed that the cost-price squeeze is most commonly viewed by farmers as the major cause of chronically low farm income.The cost side of the squeeze is widely attributed to the wage-price spiral caused by cycles of wage and input price increases negotiated between labor unions and imperfectly competitive firms, and to rising taxes and interest rates.

Date: 1971
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