Measuring precautionary wealth using cross-sectional data: the case of farm households

Ashok Mishra (), Hiroki Uematsu and J. Matthew Fannin

Review of Economics of the Household, 2013, vol. 11, issue 1, 141 pages

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. Copyright Springer Science+Business Media, LLC 2013

Keywords: Precautionary wealth; Farm households; Income variability; Pooled data; Education; Labor allocation; D14; J22; J24; Q12; Q14 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:kap:reveho:v:11:y:2013:i:1:p:131-141

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DOI: 10.1007/s11150-011-9139-0

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