Keeping ARMS relevant: extracting additional information from ARMS

Allen Featherstone, Timothy Park and Jeremy Weber

Agricultural Finance Review, 2012, vol. 72, issue 2, 233-246

Abstract: Purpose - The purpose of this paper is to discuss opportunities to obtain more information from the Agricultural Resource Management Survey (ARMS). Specifically, the paper will explore the issue of survey nonresponse, the development of pseudo panels, and more frequent updating of cost of production data on an enterprise basis.\ Design/methodology/approach - Researchers from the Land Grant University System and the Economic Research Service have relied on ARMS to evaluate the effect of agricultural, macroeconomic, and other factors on the US farm sector, farm businesses, and the households that manage them. This paper will identify gaps in understanding and proposes approaches to extract additional information from ARMS. Findings - The relevance of ARMS in the future will depend on the ability to continue to understand potential pitfalls and areas of additional research that can develop new procedures to extract additional information. Three issues which are in need of further study include continuing to examine the issue of non‐response, refining methods to develop pseudo panel data, and examining methods to develop commodity specific financial information between the commodity specific surveys. Originality/value - The National Research Council completed a review of ARMS to address challenges in keeping the survey relevant into the future. However, research that examines the construction of financial statements and other information had not been conducted since the early 1990s. This study fills part of that gap.

Keywords: ARMS; Cost of production data; Nonresponse bias; Pseudo panels; Agriculture; United States of America; Farms (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:afrpps:v:72:y:2012:i:2:p:233-246

DOI: 10.1108/00021461211250465

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