Economic Inequality among US Farm Households: Assessment of the Role of the 2008-2009 Financial CrisisReport as inadecuate




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This paper aims toevaluate the potential impact of the 2008-2009 financial crisis on the economicinequality among US farm households. To accomplish this objective, amultivariate regression procedure and a decade-long pooled state-level crosssections of data from the Agricultural Resource Management Survey ARMS wereused. Among the major findings is the inverse relationship between both incomeand wealth inequality and factors such as when the famer has a collegeeducation or beyond, when the farm is owned partly or fully, and when the farmis located in the Midwestern region. These findings underscore the importance,in terms of policy perspectives aimed at lowering economic inequality, ofinvesting in human capital and in maintaining a stable agricultural economy.

KEYWORDS

Economic Inequality, Financial Crisis, ARMS, Shapley Value

Cite this paper

El-Osta, H. and Durst, R. 2016 Economic Inequality among US Farm Households: Assessment of the Role of the 2008-2009 Financial Crisis. Modern Economy, 7, 656-676. doi: 10.4236-me.2016.75071.





Author: Hisham S. El-Osta, Ron L. Durst

Source: http://www.scirp.org/



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