A Comparison of Farm and Nonfarm Households
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.
|Date of creation:||2005|
|Contact details of provider:|| Web page: http://www.agfin.ifas.ufl.edu/|
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- 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.), issue Jan, pages 1-32.
- James M. Poterba & Andrew Samwick, 2001.
"Household Portfolio Allocation over the Life Cycle,"
in: Aging Issues in the United States and Japan, pages 65-104
National Bureau of Economic Research, Inc.
- James M. Poterba & Andrew A. Samwick, 1997. "Household Portfolio Allocation Over the Life Cycle," NBER Working Papers 6185, National Bureau of Economic Research, Inc.
- William M. Gentry & R. Glenn Hubbard, 2000. "Entrepreneurship and Household Saving," NBER Working Papers 7894, National Bureau of Economic Research, Inc.
- Kevin Milligan, 2004. "Life-cycle Asset Accumulation and Allocation in Canada," Social and Economic Dimensions of an Aging Population Research Papers 122, McMaster University.
- Kevin Milligan, 2004. "Life-Cycle Asset Accumulation and Allocation in Canada," NBER Working Papers 10860, National Bureau of Economic Research, Inc.
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