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Can Farmer Savings Accounts Help Save Farming?

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  • Edelman, Mark
  • Monke, James
  • Durst, Ron

Abstract

Despite a largely merited reputation for thrift, farmers in the United States do nor generally save for bad times. In contrast, Canada encourages farmer saving by matching their deposits and providing interest rare bonuses. In Australia, a relatively new program allows farmers to defer rates on savings deposits in good years so the savings can be withdrawn at lower rares during poor years. Although Congress has debated farmer savings concepts off and on since 1996, the United States has nor yer implemented a specific farmer savings account program. However, a savings program may emerge, either in the 2002 Farm Bill debate or as part of a broader package. We describe four possible savings account concepts to show the potential role that farmer savings incentives might play in future U.S. farm policy.

Suggested Citation

  • Edelman, Mark & Monke, James & Durst, Ron, 2001. "Can Farmer Savings Accounts Help Save Farming?," ISU General Staff Papers 200101010800001490, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:200101010800001490
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    Cited by:

    1. Gloy, Brent A. & Cheng, Mei-luan, 2006. "Farm Savings Accounts for Specialty Crop Growers," Research Bulletins 121579, Cornell University, Department of Applied Economics and Management.
    2. Monke, James D. & Durst, Ron L., 2002. "Will Savings Accounts (Ever) Become Part Of U.S. Farm Policy?," 2002 Annual meeting, July 28-31, Long Beach, CA 19820, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Sanchez, Leonardo & Vedenov, Dmitry, 2013. "Can Farmers Savings Accounts be Secured for Extreme Weather Events?," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150566, Agricultural and Applied Economics Association.

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