We develop a model that shows that asymmetric information can result in two types of credit rationing: conventional quantity rationing, and “risk rationing,” whereby farmers are able to borrow but only under high-collateral contracts that offer them lower expected well-being than a safe,...

The availability of immigrant farm-workers from Mexico is a critical factor affecting the U.S. fresh fruit and vegetable sector. This paper uses retrospective panel data from rural Mexico to examine the impact of the North American Free Trade Agreement and the Immigration Reform and Control Act...

This article provides a methodological bridge leading from the well-developed theory of credit rationing to the less developed territory of empirically identifying credit constraints. We begin by developing a simple model showing that credit constraints may take three forms: quantity rationing,...