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Journal cover: Agricultural Finance Review

Agricultural Finance Review

ISSN: 0002-1466

Online from: 2000

Subject Area: Economics

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Keeping ARMS relevant: extracting additional information from ARMS

Document Information:
Title:Keeping ARMS relevant: extracting additional information from ARMS
Author(s):Allen M. Featherstone, (Department of Agricultural Economics, Kansas State University, Manhattan, Kansas, USA), Timothy A. Park, (United States Department of Agriculture, Economic Research Service, Washington, District of Columbia, USA), Jeremy G. Weber, (United States Department of Agriculture, Economic Research Service, Washington, District of Columbia, USA)
Citation:Allen M. Featherstone, Timothy A. Park, Jeremy G. Weber, (2012) "Keeping ARMS relevant: extracting additional information from ARMS", Agricultural Finance Review, Vol. 72 Iss: 2, pp.233 - 246
Keywords:Agriculture, ARMS, Cost of production data, Farms, Nonresponse bias, Pseudo panels, United States of America
Article type:Research paper
DOI:10.1108/00021461211250465 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Acknowledgements:The views expressed here are those of the authors and do not necessarily represent the views or policies of the US Department of Agriculture, Economics Research Service or of Kansas State University.No copyright is associated with this paper because of the author's employment by the United States Federal Government at the time the paper was written.

Purpose – The purpose of this paper is to discuss opportunities to obtain more information from the Agricultural Resource Management Survey (ARMS). Specifically, the paper will explore the issue of survey nonresponse, the development of pseudo panels, and more frequent updating of cost of production data on an enterprise basis.\

Design/methodology/approach – Researchers from the Land Grant University System and the Economic Research Service have relied on ARMS to evaluate the effect of agricultural, macroeconomic, and other factors on the US farm sector, farm businesses, and the households that manage them. This paper will identify gaps in understanding and proposes approaches to extract additional information from ARMS.

Findings – The relevance of ARMS in the future will depend on the ability to continue to understand potential pitfalls and areas of additional research that can develop new procedures to extract additional information. Three issues which are in need of further study include continuing to examine the issue of non-response, refining methods to develop pseudo panel data, and examining methods to develop commodity specific financial information between the commodity specific surveys.

Originality/value – The National Research Council completed a review of ARMS to address challenges in keeping the survey relevant into the future. However, research that examines the construction of financial statements and other information had not been conducted since the early 1990s. This study fills part of that gap.

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