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...

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.

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...

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...

Using a cross sectional farm-level data we find that farm households who face higher income uncertainty save more and accumulate more wealth. Precautionary savings is about 6 percent of the total farm household wealth. In addition to precautionary saving, and consistent with theory we found that...

This paper assesses the impacts of government program payments made to US farmers under selected programs. Using a model of farm household resource allocation and data from the USDA-ERS ARMS survey, the analysis considers the effects of the various kinds of program payments on the time...

This paper examines changes in net value added generated through Canadian and U.S. farm production, 1970-2000. We consider how the structural changes in Canadian and U.S. agriculture have affected the size and distribution of net value added and its components: rent, capital, labor, and to net...

The Internet is becoming an increasingly important management tool in production agriculture. Using data from the 2004 Agricultural Resource Management Survey (ARMS) and a double-hurdle estimation approach, we explore the adoption of computers with Internet access by and Internet purchasing...