Agriculture Reference
In-Depth Information
Table 8.3
Definition of variables
Dependent variables
RENTED BUILDING
=
1 if building was rented;=0ifowned.
RENTED LAND
=
1 if land was rented;=0ifowned.
RENTED EQUIPMENT
=
1 if equipment was rented;=0ifowned.
Independent variables
ACRES
=
number of acres covered by contract.
AGE
=
farmer's age in years.
BUILDING VALUE
=
total value in $1,000s of all owned buildings multiplied by
the equity in the farm.
BUILDING AGE
=
age in years.
BUILDING SIZE
=
square foot of building.
CROP VALUE
=
value of crop in dollars.
EDUCATION
=
number of years of formal schooling.
EQUIPMENT VALUE
=
total value in $1,000s of all owned equipment multiplied by
the equity in the farm.
FARM SALES
=
gross revenue for 1992 in $100,000 of sales.
GRAINS
=
1 if crop is wheat, barley, oats, or other small grain;
=
0 otherwise.
GENERAL BUILDINGS
=
1 if building was a house or garage; 0 otherwise.
HAY
=
1 if a grass crops was the major income producing crop;
=
0 otherwise.
IRRIGATED
=
1 if land is irrigated;=0ifdryland.
LANDOWNER HUMAN CAPITAL
=
1 if not farming, never a farmer, or a widow; = 0 otherwise.
MULTIPLE EQUIPMENT
=
1 if second or third truck or tractor;
=
0 if only one piece of equipment.
NET WEALTH
=
WEALTH minus the value of either land, equipment, or
buildings, depending on the regression.
PASTURE
=
1 if land was used for grazing;
=
0 if land not used for grazing.
ROW CROP
=
1 if row crop (corn, sugar beets, sugarcane soybeans,
sorghum);
=
0 if not a row crop (wheat, oats, barley).
SHARED EQUIPMENT
=
1 if equipment is shared with another farmer;
=
0 if not shared.
SPECIALIZED EQUIPMENT
=
1 if harvest, planting, or crop specific equipment;
=
0 if equipment is general purpose.
TREES
=
1 if fruit was grown (e.g., apples, pears, etc.);
=
0 if no fruit was grown.
WEALTH
=
total value of all owned buildings, equipment, and land
multiplied by the equity in the farm.
WORKERS
=
number of different workers on farm in 1992.
