Abstract
The paper explores the distributional consequences of farm income mobility in Scotland, focusing on the extent to which farm income inequality is a chronic as opposed to a temporary phenomenon and on the nature of the dynamic processes driving changes in farm income inequality over time. The empirical results reveal that the majority of farm income inequality was long-run or structural in nature, reflecting differences in both farm business size and farm-specific factors such as land quality, managerial ability and business structures. Evidence of absolute convergence in farm incomes is explained by short-run adjustments towards equilibrium or target incomes conditional upon prices, technology and farm business size, with farm business growth conditional upon survival found to have had no significant redistributive effect.
| Original language | English |
|---|---|
| Pages (from-to) | 471-493 |
| Number of pages | 23 |
| Journal | Journal of Agricultural Economics |
| Volume | 68 |
| Issue number | 2 |
| Early online date | 14 Sept 2016 |
| DOIs | |
| Publication status | Published - Jun 2017 |
Keywords
- farm incomes
- income mobility
- income inequality
- Scotland
Access to Document
- Final Published Version
Copyright 2016 The Authors. Journal of Agricultural Economics published by John Wiley & Sons Ltd on behalf of Agricultural Economics Society. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
