Tax-Deferred Retirement Savings of Farm Households: An Empirical Investigation
Abstract
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.Download Info
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Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.
Volume (Year): 36 (2011)
Issue (Month): 1 (April)
Pages:
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Web page: http://waeaonline.org/
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Keywords: double-hurdle estimation; farm households; probit; retirement savings; risk preference; total household income; Agricultural Finance; Consumer/Household Economics;References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roberto Martinez Espineira, 2004.
"A Box-Cox double-hurdle model of wildlife valuation: the citizen’s perspective,"
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0410003, EconWPA.
- Martinez-Espineira, Roberto, 2006. "A Box-Cox Double-Hurdle model of wildlife valuation: The citizen's perspective," Ecological Economics, Elsevier, vol. 58(1), pages 192-208, June.
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