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Tax-Deferred Retirement Savings of Farm Households: An Empirical Investigation

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  • Mishra, Ashok K.
  • Chang, Hung-Hao

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.

Suggested Citation

  • Mishra, Ashok K. & Chang, Hung-Hao, 2011. "Tax-Deferred Retirement Savings of Farm Households: An Empirical Investigation," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(1), April.
  • Handle: RePEc:ags:jlaare:105545
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    File URL: http://purl.umn.edu/105545
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    References listed on IDEAS

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    1. 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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    Cited by:

    1. Mishra, Ashok K. & Chang, Hung-Hao, 2012. "Can off farm employment affect the privatization of social safety net? The case of self-employed farm households," Food Policy, Elsevier, vol. 37(1), pages 94-101.

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