This paper contains a substantial revision of a previous paper with the same title.

By shrinking the available menu of loan contracts, asymmetric information can result in two types of nonprice rationing in credit markets. The first is conventional quantity rationing. The second is ‘risk rationing.’ Risk rationed agents are able to borrow, but only under relatively high...

Recent theoretical and empirical evidence suggests that risk (especially covariant risk that is correlated across producers) may discourage both the supply of agricultural credit and the willingness of small holders to utilize available credit and enjoy the higher expected incomes credit could...

Price risk in a mathematical programming framework has been confined for a long time to a constant risk aversion specification originally introduced by Freund in 1956. This paper extends the treatment of risk in a mathematical programming framework along the lines suggested by Meyer (1987) who...

Most economic research on migration impacts in source economies focuses on the households that send migrants and receive remittances, ignoring linkages that transmit migration’s influences to others in local and regional economies. This paper offers an alternative, disaggregated economy wide...

The supply of immigrant workers from Mexico is critical to both agricultural and non-agricultural sectors in the United States. Approximately one half of all Mexican immigrants are females who typically are employed in positions that have minimal legal status requirements, e.g., domestic...

Evidence is presented in support of the “brain gain” view that the likelihood of migrating to a destination wherein the returns to human capital (schooling) are high creates incentives to acquire human capital in migrant-sending areas. In Mexico, even though internal migrants are more...