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Debt Depreciation, Conglomeration, And Credit Constraints: Evidence From Cattle Cycles

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  • Bierlen, Ralph W.
  • Dixon, Bruce L.
  • Ahrendsen, Bruce L.

Abstract

We search for evidence consistent with the notion that endogenous credit constraints play a role in cattle cycles. Beef cow inventories are found to be more sensitive to credit constraints during periods of falling than rising asset values. Inventories of heifer replacements exhibit only weak sensitivity to credit constraints during periods of falling asset values.

Suggested Citation

  • Bierlen, Ralph W. & Dixon, Bruce L. & Ahrendsen, Bruce L., 1998. "Debt Depreciation, Conglomeration, And Credit Constraints: Evidence From Cattle Cycles," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20867, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea98:20867
    DOI: 10.22004/ag.econ.20867
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    References listed on IDEAS

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    1. Rosen, Sherwin & Murphy, Kevin M & Scheinkman, Jose A, 1994. "Cattle Cycles," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 468-492, June.
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