Farm Consumption Behavior in the Presence of Uncertainty and Restrictions on Credit

Euan Phimister

American Journal of Agricultural Economics, 1995, vol. 77, issue 4, 952-959

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.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:77:y:1995:i:4:p:952-959.

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