The economic well-being of most U.S. farm households depends on income from both onfarm and off-farm activities. Consequently, for many farm households, economic decisions (including technology adoption and other production decisions) are likely to be shaped by the allocation of managerial time...

We model the interaction of off-farm work and adoption of agricultural technologies and the impact of adopting these technologies on farm household income from on farm and off-farm sources after controlling for such interaction, and estimate the model for the case of adoption of...

According to Ricardian rent theory, the value of farm assets is equal to the discounted present value of future expected net rents from farm returns, and the discounted expected value of the land if converted to nonfarm development. Some recent research has considered modifying this standard...

Farmland values in the United States represent a major component of the farm sector balance sheet. The linkage between farmland values and agricultural debt has typically been ignored in the literature. This paper attempts to make two contributions to our understanding of farmland prices. First,...

Using farm level data and a simultaneous probit model we evaluate the input use and environmental effects of revenue insurance. A priori, the moral hazard effect on input use is indeterminate and this study empirically assesses the input use impact of the increasingly popular, and federally...

The study measures how much of the variability in farm household assets and debt are attributed to the variability in farm and non-farm assets and farm and non-farm debt. Using a normalized variance decomposition approach and data from the Agricultural Resource Management Study (ARMS) survey,...

The objective of this study is to examine the effect of adoption intensity of GM crops on off‐farm labor supply by farm households. Using ARMS data in 2004, 2005 and 2006, we estimate a two stage simultaneous Tobit model and find that adoption intensity of GM crops has a negative impact on...

The financial health of the agricultural economy has been excellent for the past few years, especially with farm income reaching record levels. However, the U.S. economy has experienced a recession and a credit crisis. Although the U.S. farm sector has been mostly shielded from the economic...