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The succession in family farm is a critical issue: it not only involves the transmission of wealth, but also of specific skills and of specific farm management techniques. Since a large share of farmers in Italy are old, the lack of prospective successors in their farms would imply that a change...
Persistent link: https://www.econbiz.de/10005518894
In a recent paper, Benjamin and Kimhi (2006) argued that using multivariate probit for analysing off-farm participation of farm couples suffers from a theoretical inconsistency. This note tries to clarify this issue, and illustrates the joint participation rules based on reservation wages of...
Persistent link: https://www.econbiz.de/10008468108
Most farms are family business, both in developed and developing countries. Labour allocation choices of farm household members are therefore relevant both for production choices in the farm and for rural labour markets. In particular, off-farm work and combination of on- and off-farm work...
Persistent link: https://www.econbiz.de/10005650195