Table 3 Post double selection LASSO OLS...

Table 3

Post double selection LASSO OLS for short-term debt use: farm types

	All farms	Residence	Intermediate	Commercial
Covid government payments (million $)	0.630^*** (0.0863)	2.787 (1.955)	3.642^*** (1.059)	0.458^*** (0.0688)
Short-Term Interest Rate (%)	0.0505^*** (0.00432)	0.0547^*** (0.00895)	0.0575^*** (0.00806)	0.0216^*** (0.00456)
Crop Insurance Use (1/0)	0.0553 (0.0596)	0.0481 (0.0766)		0.155^*** (0.0345)
Individual Farm (1/0)	−0.0505 (0.0999)
Farm Investment (million $)	0.00803 (0.0457)
Gross Farm Income (million $)	0.00582 (0.0193)	0.826 (0.532)	0.590 (0.472)	0.00859^*** (0.00300)
Return on Assets (%)	−0.00236 (0.0327)
Contracts Use	0.0395 (0.0268)
Diversification (0–1)	−0.203 (0.149)
Age (years)	−0.00698^*** (0.00155)	−0.00702^*** (0.000680)	−0.00567^*** (0.00110)	−0.00416^*** (0.00108)
Total Assets (million $)	0.00505^*** (0.00166)
Male (1/0)		0.0411 (0.0282)
Education				−0.0215 (0.0138)
Constant	0.661^*** (0.100)	0.531^*** (0.0562)	0.532^*** (0.0832)	0.680^*** (0.0845)
Observations	21,293	5,882	7,126	8,285
Represented Farms	3,315,326	1,768,514	1,177,989	368,824
Rˆ2	0.185	0.159	0.162	0.105
Number of Double Selection Lasso Controls	32	10	8	15
Number of Double Selection LASSO Interactions Related to
Gender	3	1	1	1
Race	3	1	1	3
Farm characteristics	11	4	4	6
Other farmer characteristics	6			1

	All farms	Residence	Intermediate	Commercial
Covid government payments (million $)	0.630^*** (0.0863)	2.787 (1.955)	3.642^*** (1.059)	0.458^*** (0.0688)
Short-Term Interest Rate (%)	0.0505^*** (0.00432)	0.0547^*** (0.00895)	0.0575^*** (0.00806)	0.0216^*** (0.00456)
Crop Insurance Use (1/0)	0.0553 (0.0596)	0.0481 (0.0766)		0.155^*** (0.0345)
Individual Farm (1/0)	−0.0505 (0.0999)
Farm Investment (million $)	0.00803 (0.0457)
Gross Farm Income (million $)	0.00582 (0.0193)	0.826 (0.532)	0.590 (0.472)	0.00859^*** (0.00300)
Return on Assets (%)	−0.00236 (0.0327)
Contracts Use	0.0395 (0.0268)
Diversification (0–1)	−0.203 (0.149)
Age (years)	−0.00698^*** (0.00155)	−0.00702^*** (0.000680)	−0.00567^*** (0.00110)	−0.00416^*** (0.00108)
Total Assets (million $)	0.00505^*** (0.00166)
Male (1/0)		0.0411 (0.0282)
Education				−0.0215 (0.0138)
Constant	0.661^*** (0.100)	0.531^*** (0.0562)	0.532^*** (0.0832)	0.680^*** (0.0845)
Observations	21,293	5,882	7,126	8,285
Represented Farms	3,315,326	1,768,514	1,177,989	368,824
Rˆ2	0.185	0.159	0.162	0.105
Number of Double Selection Lasso Controls	32	10	8	15
Number of Double Selection LASSO Interactions Related to
Gender	3	1	1	1
Race	3	1	1	3
Farm characteristics	11	4	4	6
Other farmer characteristics	6			1

Note(s): This table shows the estimation results for equation (5) $y_{i} = {β_{0} {+ β}_{int} int}_{i} + β_{g o v} {g o v}_{i} + β_{x} \tilde{x_{i}} + ε_{i}$ where $y_{i}$ refers to the binary variable short-term debt use. LASSO selected interactions within $\tilde{x}$ are classified as being related to gender, race, farm characteristics, and other farmer characteristics at the bottom of the table depicting the relevance of each category of controls for the estimated association. Standard errors in parentheses. ^*p < 0.10, ^**p < 0.05, ^***p < 0.01

Source(s): Authors own work

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