Table 4 Post double selection LASSO OLS...

Table 4

Post double selection LASSO OLS for short-term debt use: gender, race, and experience

	Male	Female	Non-white	White	Experienced	Beginning
Covid government payments (million $)	0.599^*** (0.0946)	1.207^*** (0.399)	0.582 (0.436)	0.647^*** (0.0827)	0.576^*** (0.0893)	0.941^** (0.360)
Short-Term Interest Rate (%)	0.0506^*** (0.00405)	0.0521 (0.0412)	0.0634^*** (0.0196)	0.0502^*** (0.00453)	0.0530^*** (0.00357)	0.0385^** (0.0147)
Crop Insurance Use (1/0)	0.102^*** (0.0342)			0.0617 (0.0603)	0.109^*** (0.0372)
Individual Farm (1/0)	0.102 (0.0767)			−0.0470 (0.103)	0.00850 (0.0875)
Farm Investment (million $)	0.0160 (0.0422)			0.00756 (0.0457)	0.00871 (0.0493)
Gross Farm Income (million $)	0.0118^** (0.00458)			0.0101 (0.0217)	0.0149 (0.0278)
Age (years)	−0.00502^*** (0.00118)			−0.00696^*** (0.00164)	−0.00675^*** (0.00133)	−0.00631^*** (0.00116)
Acreage (acres)	−0.00000349 (0.00000212)				−0.00000711 (0.00000988)
Return on Assets (%)		0.0170 (0.0523)		0.00639 (0.0154)
Contracts Use			0.329^** (0.120)	0.0374 (0.0261)		0.172^* (0.0940)
Diversification (0–1)				−0.236 (0.155)	−0.199 (0.127)
Total Assets (million $)				0.00541^*** (0.00171)	0.00512^*** (0.00174)
Land Tenure (ratio)						−0.000510 (0.00206)
Constant	0.548^*** (0.0767)	0.159^*** (0.0184)	0.167^*** (0.0314)	0.659^*** (0.105)	0.663^*** (0.0926)	0.562^*** (0.0655)
Observations	19,615	1,678	588	20,705	18,896	2,397
Represented Farms	2,848,565	466,762	121,796	3,193,530	2,734,508	580,818
Rˆ2	0.185	0.0640	0.124	0.186	0.201	0.121
Number of Double Selection Lasso Controls	23	12	2	29	27	8
Number of Double Selection LASSO Interactions Related to
Gender				3	3	1
Race	2	4			2
Farm characteristics	11	4	1	11	10	4
Other farmer characteristics	4	3		6	4

	Male	Female	Non-white	White	Experienced	Beginning
Covid government payments (million $)	0.599^*** (0.0946)	1.207^*** (0.399)	0.582 (0.436)	0.647^*** (0.0827)	0.576^*** (0.0893)	0.941^** (0.360)
Short-Term Interest Rate (%)	0.0506^*** (0.00405)	0.0521 (0.0412)	0.0634^*** (0.0196)	0.0502^*** (0.00453)	0.0530^*** (0.00357)	0.0385^** (0.0147)
Crop Insurance Use (1/0)	0.102^*** (0.0342)			0.0617 (0.0603)	0.109^*** (0.0372)
Individual Farm (1/0)	0.102 (0.0767)			−0.0470 (0.103)	0.00850 (0.0875)
Farm Investment (million $)	0.0160 (0.0422)			0.00756 (0.0457)	0.00871 (0.0493)
Gross Farm Income (million $)	0.0118^** (0.00458)			0.0101 (0.0217)	0.0149 (0.0278)
Age (years)	−0.00502^*** (0.00118)			−0.00696^*** (0.00164)	−0.00675^*** (0.00133)	−0.00631^*** (0.00116)
Acreage (acres)	−0.00000349 (0.00000212)				−0.00000711 (0.00000988)
Return on Assets (%)		0.0170 (0.0523)		0.00639 (0.0154)
Contracts Use			0.329^** (0.120)	0.0374 (0.0261)		0.172^* (0.0940)
Diversification (0–1)				−0.236 (0.155)	−0.199 (0.127)
Total Assets (million $)				0.00541^*** (0.00171)	0.00512^*** (0.00174)
Land Tenure (ratio)						−0.000510 (0.00206)
Constant	0.548^*** (0.0767)	0.159^*** (0.0184)	0.167^*** (0.0314)	0.659^*** (0.105)	0.663^*** (0.0926)	0.562^*** (0.0655)
Observations	19,615	1,678	588	20,705	18,896	2,397
Represented Farms	2,848,565	466,762	121,796	3,193,530	2,734,508	580,818
Rˆ2	0.185	0.0640	0.124	0.186	0.201	0.121
Number of Double Selection Lasso Controls	23	12	2	29	27	8
Number of Double Selection LASSO Interactions Related to
Gender				3	3	1
Race	2	4			2
Farm characteristics	11	4	1	11	10	4
Other farmer characteristics	4	3		6	4

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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