This paper analyses the composition and volatility of the total income and wealth of dairy farmers and the importance and volatility of the different components contributing to their total income and wealth based on Dutch FADN data. The results confirm some existing findings on the stabilising impact of CAP subsidies and off-farm income on farmers’ total income. The paper extends the existing analyses by exploring the impact of taxes on income volatility and the important role of savings in stabilising consumption of farm households. In this paper we show that a broader perspective (including off-farm income and wealth) provides a more realistic picture of the income and wealth effects as experienced by farmers.
Economic Diversification Potential: Insights from Mongolia’s Livestock Product Value Chains
Mongolia, endowed with abundant natural resources, faces a critical challenge in reducing its reliance on the mining sector and achieving...
