Succession planning is a component of a household’s risk management strategy for its farm business in as much as it is aimed at continuity of the business' management team. The family farm sector relies heavily on intergenerational succession. Succession and retirement are inter-linked...

The objective of this study is to test the dynamic relationships among variables including farm real estate values, farm returns, farm program payments, and real interest rates in an income capitalization model. Our analysis is unique in multiple ways: (1) it covers the period beginning with the...

This study addresses the impact of trade openness on technical efficiency in the U.S. agricultural sector. The results indicate that trade protectionism illustrated with a decrease in the share of agricultural imports in agricultural GDP led to an increase in technical efficiency. A change in...

The proportions of land values generated by farm program payments and farm returns are examined using an extended income capitalization model. The extended income capitalization model addresses the identification issue introduced by the counter-cyclical nature of farm program payments and farm...

From a practical stand point, the precision and robustness of forecasting agricultural land values are evaluated in two out-of-sample time periods. Empirical application to five Midwestern states in the U.S. indicates the annually updated model performed well.

In the era of a global economy, farmers face increasing pressure in developing a portfolio of various marketing channels. However, the literature on direct marketing strategies has mainly focused on consumers. Using farm-level data this study investigates factors associated with the choice of...

The Agricultural Resource Management Survey (ARMS) collects information on income of farm households from a variety of sources. Traditionally, the amount of money income received during a calendar year has been the primary income measure for assessing the economic wellbeing of farm households....

With increased focus on survival strategies for small farm businesses, we investigate the impact of Internet access on income and farm expenses of small farm business and households. Using a nation-wide farm-level data in the U.S. and non-parametric matching estimators, the study finds a...

Factors affecting the level of farm and household debt have been of sporadic concern in agricultural economic literature. In the Mid 1980s, farm business and household debt was hypothesized to contribute to the farm financial crisis. This paper examines factors affecting the probability of farm...