Abstract
This study uses a two-stage econometric framework with farm household level data to investigate whether off-farm work of operators and spouses influences healthcare expenditures and retirement savings. Results indicate that agricultural policy discourages off-farm work by farm operators and spouses. However, off-farm work decisions of farm couples significantly decrease healthcare expenditures and increase retirement savings of farm households in the US. The effect of farm spouse's off-farm employment on household retirement saving is more pronounced. These conclusions can extend to middle-income countries where off-farm work may enable farmers to afford better healthcare and retirement pension plans.
Original language | English (US) |
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Pages (from-to) | 94-101 |
Number of pages | 8 |
Journal | Food Policy |
Volume | 37 |
Issue number | 1 |
DOIs | |
State | Published - Feb 1 2012 |
Externally published | Yes |
Keywords
- Agricultural policy
- Healthcare expenditures
- Off-farm work
- Retirement savings
ASJC Scopus subject areas
- Food Science
- Development
- Sociology and Political Science
- Economics and Econometrics
- Management, Monitoring, Policy and Law