Mishra, Ashok K.; Uematsu, Hiroki; Powell, Rebekah R. - In: Journal of Applied Economics XV (2012) November, pp. 353-369
variable approach on farm-level data. Results indicate that precautionary saving is a powerful determinant of wealth … accumulation among U.S. farm households. Precautionary savings account for 53% of total wealth accumulation in general. Our results … indicate an age-wealth profile that is consistent with the life-cycle hypothesis. The share of precautionary saving in total …