Tax-Deferred Retirement Savings of Farm Households: An Empirical Investigation
Ashok Mishra () and
Hung-Hao Chang ()
Journal of Agricultural and Resource Economics, 2011, vol. 36, issue 1, 17
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.
Keywords: Agricultural Finance; Consumer/Household Economics (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:105545
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