Measuring precautionary wealth using cross-sectional data: the case of farm households |
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| Authors: | Ashok K. Mishra Hiroki Uematsu J. Matthew Fannin |
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| Affiliation: | 1. Department of Agricultural Economics and Agribusiness, Louisiana State University AgCenter & Louisiana State University, 211 Martin D. Woodin Hall, Baton Rouge, LA, 70803, USA
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| 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. |
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