Precautionary wealth among U.S farm households

Using a cross sectional farm-level data we find that farm households who face higher income uncertainty save more and accumulate more wealth. Precautionary savings is about 6 percent of the total farm household wealth. In addition to precautionary saving, and consistent with theory we found that the age, education, occupation, and the number of acres operated are all important factors that influence wealth accumulation by U.S farm households.


Issue Date:
2009
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/46606
Page range:
1-18
Total Pages:
18
JEL Codes:
precautionary savings; wealth; income risk; farm households




 Record created 2017-04-01, last modified 2018-01-22

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