IDEAS home Printed from https://ideas.repec.org/p/ags/nc2005/132757.html
   My bibliography  Save this paper

A Comparison of Farm and Nonfarm Households

Author

Listed:
  • Katchova, Ani L.

Abstract

This study compares the economic well-being of farm and nonfarm households using data from the 2001 Agricultural Resource Management Survey and the 2001 Survey of Consumer Finances. Comparisons are made in terms of income and wealth using Tukey-Kramer mean separation tests, regression analysis, and Gini coefficients. The results show that income and wealth of rural residence and intermediate farms are comparable to those of nonfarm households without businesses, while the well-being of commercial farms is similar to that of nonfarm households with businesses. Income and wealth vary across life-cycle stages, with a less pronounced cycle for the income of commercial farms.

Suggested Citation

  • Katchova, Ani L., 2005. "A Comparison of Farm and Nonfarm Households," 2005 Agricultural and Rural Finance Markets in Transition, October 3-4, 2005, Minneapolis, Minnesota 132757, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    • Handle: RePEc:ags:nc2005:132757
    DOI: 10.22004/ag.econ.132757
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/132757/files/Katchova2005.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.132757?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ana M. Aizcorbe & Arthur B. Kennickell & Kevin B. Moore, 2003. "Recent changes in U.S. family finances: evidence from the 1998 and 2001 Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 89(Jan), pages 1-32, January.
    2. William M. Gentry & R. Glenn Hubbard, 2000. "Entrepreneurship and Household Saving," NBER Working Papers 7894, National Bureau of Economic Research, Inc.
    3. Kevin Milligan, 2005. "Life‐cycle asset accumulation and allocation in Canada," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(3), pages 1057-1106, August.
    4. James M. Poterba & Andrew Samwick, 2001. "Household Portfolio Allocation over the Life Cycle," NBER Chapters, in: Aging Issues in the United States and Japan, pages 65-104, National Bureau of Economic Research, Inc.
    5. Tullio Jappelli, 1999. "The Age‐Wealth Profile And The Life‐Cycle Hypothesis: A Cohort Analysis With A Time Series Of Cross‐Sections Of Italian Households," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(1), pages 57-75, March.
    6. El-Osta, Hisham S. & Morehart, Mitchell J., 2002. "The Dynamics of Wealth Concentration Among Farm Operator Households," Agricultural and Resource Economics Review, Cambridge University Press, vol. 31(1), pages 84-96, April.
    7. Hopkins, Jeffrey W. & Morehart, Mitchell J., 2004. "Assessing Farm Household Well-Being--Beyond Farmers and Farm Income," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, pages 1-1, February.
    8. Dubman, Robert, 2000. "Variance Estimation With USDA's Farm Costs and Returns Surveys and Agricultural Resource Management Study Surveys," Staff Reports 276685, United States Department of Agriculture, Economic Research Service.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Katchova, Ani L., 2006. "The Economic Well-Being of Farm and Nonfarm Households: Evidence from Two National Surveys," 2006 Annual meeting, July 23-26, Long Beach, CA 21401, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Mishra, Ashok K. & El-Osta, Hisham S., 2005. "Wealth Accumulation by Farm Households: Evidence from a National Survey," 2005 Annual meeting, July 24-27, Providence, RI 19573, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Erickson, Kenneth W. & Moss, Charles B. & Mishra, Ashok K., 2006. "Farm Wealth Inequality Within and Across States in the United States," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(2), pages 1-14, October.
    4. Spaenjers, Christophe & Spira, Sven Michael, 2015. "Subjective life horizon and portfolio choice," Journal of Economic Behavior & Organization, Elsevier, vol. 116(C), pages 94-106.
    5. repec:hum:wpaper:sfb649dp2016-056 is not listed on IDEAS
    6. Korb, Penelope J. & Blank, Steven C. & Erickson, Kenneth W., 2004. "Profit Patterns In The U.S. And The West, 1992 And 1997: What County-Level Data Reveal," 2004 Annual Meeting, June 30-July 2, 2004, Honolulu, Hawaii 36253, Western Agricultural Economics Association.
    7. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008. "The Asset Portfolios of Native-Born and Foreign-Born Households," IZA Discussion Papers 3304, Institute of Labor Economics (IZA).
    8. Andersson, Björn, 2001. "Portfolio Allocation over the Life Cycle: Evidence from Swedish Household Data," Working Paper Series 2001:4, Uppsala University, Department of Economics.
    9. Cagetti, Marco & De Nardi, Mariacristina, 2008. "Wealth Inequality: Data And Models," Macroeconomic Dynamics, Cambridge University Press, vol. 12(S2), pages 285-313, September.
    10. Fang, H., 2016. "Insurance Markets for the Elderly," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 237-309, Elsevier.
    11. Nancy Ammon Jianakoplos & Alexandra Bernasek, 2006. "Financial Risk Taking by Age and Birth Cohort," Southern Economic Journal, John Wiley & Sons, vol. 72(4), pages 981-1001, April.
    12. Marianna Brunetti, 2007. "Population Ageing, Household Portfolios and Financial Asset Returns: a Survey of the Literature," Politica economica, Società editrice il Mulino, issue 2, pages 171-208.
    13. El-Osta, Hisham S. & Morehart, Mitchell J., 2009. "Welfare Decomposition in the Context of the Life Cycle of Farm Operators: What Does a National Survey Reveal?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 38(2), pages 1-17, October.
    14. Chen, Xiaoyu & Ji, Xiaohao, 2016. "How does rising house price influence stock market participation in China? A micro-household perspective," SFB 649 Discussion Papers 2016-056, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    15. Covas, Francisco, 2006. "Uninsured idiosyncratic production risk with borrowing constraints," Journal of Economic Dynamics and Control, Elsevier, vol. 30(11), pages 2167-2190, November.
    16. Bunting, David, 2009. "The saving decline: Macro-facts, micro-behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 282-295, May.
    17. Matteo Iacoviello, 2008. "Household Debt and Income Inequality, 1963–2003," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 929-965, August.
    18. Guiso, Luigi & Jappelli, Tullio, 2002. "Private Transfers, Borrowing Constraints and the Timing of Homeownership," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(2), pages 315-339, May.
    19. Nathan D. DeLay & Nathanael M. Thompson & James R. Mintert, 2022. "Precision agriculture technology adoption and technical efficiency," Journal of Agricultural Economics, Wiley Blackwell, vol. 73(1), pages 195-219, February.
    20. Panousi, Vasia, 2009. "Capital Taxation with Entrepreneurial Risk," MPRA Paper 24237, University Library of Munich, Germany.
    21. Miao, Jianjun & Wang, Neng, 2007. "Investment, consumption, and hedging under incomplete markets," Journal of Financial Economics, Elsevier, vol. 86(3), pages 608-642, December.

    More about this item

    Keywords

    Agricultural Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nc2005:132757. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aesukea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.