Farm consumption behavior in the presence of uncertainty and restrictions on credit

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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.
Original languageEnglish
Pages (from-to)952-959
Number of pages8
JournalAmerican Journal of Agricultural Economics
Volume77
Issue number4
DOIs
Publication statusPublished - 1 Nov 1995

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