EconPapers    
Economics at your fingertips  
 

Dynamics of income, wealth and capital in Norwegian farm household accounts: A state-space model

Oyvind Hoveid and A. Raknerud

No 44461, 2008 International Congress, August 26-29, 2008, Ghent, Belgium from European Association of Agricultural Economists

Abstract: Feedbacks between on-farm and off-farm activities are analyzed with a state-space model over a panel of farm household accounts. We discover significant positive effects of farm capital both on farm income and on wage labor income. The latter effect is interpreted as wage labor partly paying the debt incurred by investments in farm capital. Significant positive effects on farm capital from wealth - indicating credit rationing or an immediate willingness to pay for farm investments - are also discovered. The wealth effect on farm income is also significantly positive. By and large - at least for the household for which the results are estimated, and for the model applied - Fishers separation theorem is rejected.

Keywords: Agricultural and Food Policy; Consumer/Household Economics (search for similar items in EconPapers)
Pages: 14
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://ageconsearch.umn.edu/record/44461/files/599.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae08:44461

DOI: 10.22004/ag.econ.44461

Access Statistics for this paper

More papers in 2008 International Congress, August 26-29, 2008, Ghent, Belgium from European Association of Agricultural Economists Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().

 
Page updated 2021-01-16
Handle: RePEc:ags:eaae08:44461