Measuring precautionary wealth using cross-sectional data: The case of farm households

Ashok K. Mishra, Hiroki Uematsu, J. Matthew Fannin

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

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 languageEnglish (US)
Pages (from-to)131-141
Number of pages11
JournalReview of Economics of the Household
Volume11
Issue number1
DOIs
StatePublished - Jan 1 2013
Externally publishedYes

Keywords

  • Education
  • Farm households
  • Income variability
  • Labor allocation
  • Pooled data
  • Precautionary wealth

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics

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