Phimister, E. (1995) Farm consumption behavior in the presence of uncertainty and restrictions on credit. American J. of Agricultural Economics, 77 (4). pp. 952-959.
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Abstract
Farm consumption behavior has an important indirect role in determining the ability of farms to invest and grow. In this paper I examine the effect on farm consumption behavior of the presence of quantitative restrictions on farm borrowing. Using a form of the life cycle model which allows for both consumption and production by the household, the effect of borrowing restrictions on consumption behavior is tested econometrically for a sample of Dutch farm households. The results suggest that the life cycle model without borrowing restrictions is rejected by the data
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Borrowing restrictions; Euler equation; stochastic life cycle model |
| Author Affiliation: | Centre for Agricultural, Food and Resource Economics (CAFRE); School of Economic Studies, University of Manchester, United Kingdom |
| Subjects: | Social Sciences > Agricultural Economics |
| Divisions: | General |
| Depositing User: | Ms K Syamalamba |
| Date Deposited: | 24 Apr 2014 08:03 |
| Last Modified: | 24 Apr 2014 08:03 |
| Official URL: | http://dx.doi.org/10.2307/1243818 |
| URI: | http://eprints.icrisat.ac.in/id/eprint/13079 |
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