Are U.S. Farm Wages Really Depressing? Evidence from the Northeast and South

Tugrul Temel () and Edward M. Tavernier
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Edward M. Tavernier: Rutgers University

The Review of Regional Studies, 2001, vol. 29, issue 3, 212-225

Abstract: This study examines movements in U.S. real farm wages and whether or not wages tend to converge during 1978-92. Results from the Markov chain analysis support convergence in both the Northeast and the South to a lower wage rate than their respective regional average rates in 1978. A comparison of the time-invariant and actual terminal period distributions indicates that such tendency signals future wages to depress. This further suggests that the over-supply of labor, which manifests itself in the form of lower wages, can be viewed as a symptom of a healthy labor market responding to market signals.

Date: 1999
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