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US farm debt: the role of ARMS


  • Brian C. Briggeman
  • Steven R. Koenig
  • Charles B. Moss


Purpose - To identify periods of severe stress, and potentially take action to avoid or dampen their negative effects, lenders and policymakers need accurate and reliable data on US farm debt supply and credit needs. The purpose of this paper is to assess the current availability of information on US farm debt as well as its accuracy. Design/methodology/approach - A review of the farm debt information and survey methodology of the Agricultural Resource Management Survey (ARMS). Findings - This manuscript examines several potential issues involving the debt and lender data within ARMS. First, the empirical results indicate that there is an informational break in ARMS beginning in 2000. Second, the paper presents evidence that the overall level of debt reported by USDA is not consistent with information reported by lenders for other regulatory sources. Finally, the paper proposes a modification of the debt question to improve the data collection. Originality/value - The paper offers an external review of farm debt information in ARMS.

Suggested Citation

  • Brian C. Briggeman & Steven R. Koenig & Charles B. Moss, 2012. "US farm debt: the role of ARMS," Agricultural Finance Review, Emerald Group Publishing, vol. 72(2), pages 254-261, July.
  • Handle: RePEc:eme:afrpps:v:72:y:2012:i:2:p:254-261

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    Cited by:

    1. Morehart, Mitch & Milkove, Dan & Xu, Yang, 2014. "Multivariate Farm Debt Imputation in the Agricultural Resource Management Survey (ARMS)," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169401, Agricultural and Applied Economics Association.
    2. Burns, Christopher & Prager, Daniel & Ghosh, Sujit & Goodwin, Barry, 2015. "Imputing for Missing Data in the ARMS Household Section: A Multivariate Imputation Approach," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205291, Agricultural and Applied Economics Association;Western Agricultural Economics Association.

    More about this item


    ARMS; Farm debt; Survey instrument; Farms; Agriculture; Debts;


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