Tax-deferred retirement savings of farm households: An empirical investigation

Ashok K. Mishra, Hung Hao Chang

Research output: Contribution to journalArticle

3 Scopus citations

Abstract

This study examines factors affecting tax-deferred retirement savings among farm households. A double-hurdle model is estimated using 2003 Agricultural Resource Management Survey (ARMS) farm-level national data. Results indicate that demographic factors, total household income, off-farm work, and risk preference play important roles in retirement savings plan participation. Retirement savings increase with household size, intensity of off-farm work by farm operator and spouse, and size of farming operation. We find that the amount of retirement savings decreases with operator's age and increases with spouse's age, and that cash grain and dairy farmers have lower retirement savings.

Original languageEnglish (US)
Pages (from-to)160-176
Number of pages17
JournalJournal of Agricultural and Resource Economics
Volume36
Issue number1
StatePublished - Apr 1 2011
Externally publishedYes

Keywords

  • Double-hurdle estimation
  • Farm households
  • Probit
  • Retirement savings
  • Risk preference
  • Total household income

ASJC Scopus subject areas

  • Animal Science and Zoology
  • Agronomy and Crop Science
  • Economics and Econometrics

Fingerprint Dive into the research topics of 'Tax-deferred retirement savings of farm households: An empirical investigation'. Together they form a unique fingerprint.

  • Cite this