Off‐farm labor supply responses to permanent and transitory farm income
研究了爱荷华州农场夫妇的非农劳动供给如何响应永久性和暂时性农场收入变化，发现双方均减少非农劳动以应对永久收入增加，妻子还因暂时收入增加而减少非农劳动，表明家庭通过调整休闲消费来平滑商品消费。
Abstract A sample of Iowa farm couples is used to evaluate whether off‐farm labor supply decisions respond to permanent and transitory components of farm income. Off‐farm labor supply of both spouses declines in response to increases in permanent farm income. Farm wives also reduce off‐farm labor supply in response to positive transitory farm income shocks. Consequently, one mechanism farm households use to smooth their goods consumption when facing fluctuating farm income is to modify their consumption of leisure. Ability to smooth goods consumption does not imply the absence of liquidity constraints among farm households unless leisure consumption is also smoothed.