2005•AgEcon Search (University of Minnesota, USA)Open access

Off-farm Income and Risky Investments: What Happens to Farm and Nonfarm Assets?

Hans Andersson, Bharat Ramaswami, Charles B. Moss, Kenneth W. Erickson, Charles B. Hallahan, Richard F. Nehring, Andersson, Hans, Ramaswami, Bharat, Moss, Charles B., Erickson, Kenneth W., Hallahan, Charles B., Nehring, Richard F.

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Abstract

Off-farm work improves and reduces the riskiness of household income. Theoretical analyses reveal that the level and riskiness of off-farm income affect demand for farm/nonfarm investments. A two-limit Tobit model is estimated using ARMS data for 1996-2003. The impact on investment behaviour is evaluated.

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Key concepts: Nonfarm payrolls, Farm income, Economics, Panel data, Asset (computer security), Investment (military), Portfolio, Agricultural economics