EFFECTS ON FARM INCOMES AND RURAL LABOUR OF A RELATIVE INCREASE IN WAGES

We use the concept of the elasticity of farm incomes with respect to changes in input prices to analyse the effects of a large increase in relative wages on selected measures of farm incomes. In order to estimate the elasticity of farm incomes we have to estimate elasticities and cross-elasticities of demand and supply for farm labour and capital. The estimates of elasticity of demand for operator and hired labour allow us to calculate the impact of a rise in wages on numbers of farmers and hired labour employed in agriculture.


Issue Date:
1974-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22893
Published in:
Australian Journal of Agricultural Economics, Volume 18, Number 3
Page range:
193-207
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-24

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