This review examines portions of the vast literature on rural financial markets and household behavior in the face of risk and uncertainty and limited commitment. In addition to examining household strategies and bilateral contracting we place particular emphasis on studying the important role...

"Covered mortgage bonds have been used successfully in Europe for two centuries, but failed in the U.S. when introduced as farm mortgage debentures in the 1880s. Using firm-level data and a sample of loans made by one Kansas mortgage company, I find that debenture programs grew out of...