Off-farm income and risk reduction in agriculture: when does it matter?

Hans Andersson, Buddhavarapu Sailesh Ramamurtie and Bharat Ramaswami

No 95-14, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: Investment behavior is analyzed using a dynamic portfolio model including off-farm income. The correlation structure of off-farm income and asset returns and the ratio of off-farm income to wealth is shown to affect portfolio choice. Empirical analysis indicates that off-farm income tends to increase farm assets.

Keywords: Agriculture; Farm income; Wages (search for similar items in EconPapers)
Date: 1995
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