Income mobility and income inequality in Scottish agriculture
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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.
Journal Title/Title of Proceedings
Journal of Agricultural Economics
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.http://creativecommons.org/licenses/by/4.0/
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Except where otherwise noted, this item's license is described as 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.
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