Agricultural Precautionary Wealth
Using panel data, the relationship between income uncertainty and the stock of wealth through precautionary saving is examined. Evidence from Kansas data is consistent with the precautionary saving motive in that farm households facing greater uncertainty in income maintain larger stocks of wealth i...
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| Format: | Article |
| Language: | English |
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Western Agricultural Economics Association
2004-04-01
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| Series: | Journal of Agricultural and Resource Economics |
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| Online Access: | https://ageconsearch.umn.edu/record/31146 |
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Article |
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doaj-c40033956a714d91989c64b9006c672e2020-11-25T02:42:33ZengWestern Agricultural Economics AssociationJournal of Agricultural and Resource Economics1068-55022327-82852004-04-01291173010.22004/ag.econ.3114631146Agricultural Precautionary WealthFarrell E. JensenRulon D. PopeUsing panel data, the relationship between income uncertainty and the stock of wealth through precautionary saving is examined. Evidence from Kansas data is consistent with the precautionary saving motive in that farm households facing greater uncertainty in income maintain larger stocks of wealth in order to smooth consumption. These results are found by regressing net worth against measures of permanent income (life-cycle income), measures of uncertainty, and demographic variables.https://ageconsearch.umn.edu/record/31146precautionary savingprecautionary wealthrisk |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Farrell E. Jensen Rulon D. Pope |
| spellingShingle |
Farrell E. Jensen Rulon D. Pope Agricultural Precautionary Wealth Journal of Agricultural and Resource Economics precautionary saving precautionary wealth risk |
| author_facet |
Farrell E. Jensen Rulon D. Pope |
| author_sort |
Farrell E. Jensen |
| title |
Agricultural Precautionary Wealth |
| title_short |
Agricultural Precautionary Wealth |
| title_full |
Agricultural Precautionary Wealth |
| title_fullStr |
Agricultural Precautionary Wealth |
| title_full_unstemmed |
Agricultural Precautionary Wealth |
| title_sort |
agricultural precautionary wealth |
| publisher |
Western Agricultural Economics Association |
| series |
Journal of Agricultural and Resource Economics |
| issn |
1068-5502 2327-8285 |
| publishDate |
2004-04-01 |
| description |
Using panel data, the relationship between income uncertainty and the stock of wealth through precautionary saving is examined. Evidence from Kansas data is consistent with the precautionary saving motive in that farm households facing greater uncertainty in income maintain larger stocks of wealth in order to smooth consumption. These results are found by regressing net worth against measures of permanent income (life-cycle income), measures of uncertainty, and demographic variables. |
| topic |
precautionary saving precautionary wealth risk |
| url |
https://ageconsearch.umn.edu/record/31146 |
| work_keys_str_mv |
AT farrellejensen agriculturalprecautionarywealth AT rulondpope agriculturalprecautionarywealth |
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1724773047114661888 |