Abstract
This study models and investigates the presence of precautionary wealth among farm households, something few studies have attempted. Using pooled farm-level data, we find that self-employed farm households accumulate more wealth. Precautionary savings is about 8% of total household wealth. In addition, we find that age, education, occupation, and operation size are important factors influencing wealth accumulation by US farm households.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 131-141 |
| Number of pages | 11 |
| Journal | Review of Economics of the Household |
| Volume | 11 |
| Issue number | 1 |
| DOIs | |
| State | Published - Mar 2013 |
| Externally published | Yes |
Keywords
- Education
- Farm households
- Income variability
- Labor allocation
- Pooled data
- Precautionary wealth
ASJC Scopus subject areas
- Social Sciences (miscellaneous)
- Economics and Econometrics