TITLE:
An Index of Socio-Economic Well-Being of U.S. Farm Households
AUTHORS:
Hisham S. El-Osta
KEYWORDS:
Farm Programs, Multinomial Probit Regression, Quality of Life, Socio Economic Wellbeing
JOURNAL NAME:
Modern Economy,
Vol.5 No.12,
November
19,
2014
ABSTRACT: The primary purpose of the paper is to
construct a combined index of quality-of-life and economic wellbeing based on
national data from the 2004 Agricultural Resource Management Survey. Additional
objective is to assess the role of increased utilizationof various types
of Federal farm programs in the context of the life-cycle on socioeconomic
wellbeing. A central finding, which has implication for rural development and
the continuity of the family farm, shows a positive relationship between
increased intensity of farm program participation and higher likelihoods of
socioeconomic wellbeing, particularly among elderly farmers.