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作者：Chowdhury, Shyamal; Chowdhury, Prabal Roy; Sengupta, Kunal
作者单位：University of Sydney; Indian Statistical Institute; Indian Statistical Institute Delhi
摘要：This paper develops a theory of sequential lending in groups in micro-finance that centers on the notion of dynamic incentives, in particular the simple idea that default incentives should be relatively uniformly distributed across time. In a framework that allows project returns to accrue over time, as well as strategic default, we show that sequential lending can help resolve problems arising out of coordinated default, thus improving project efficiency vis-a-vis individual lending. Inter al...
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作者：Chernina, Eugenia; Dower, Paul Castaneda; Markevich, Andrei
作者单位：HSE University (National Research University Higher School of Economics); New Economic School; New Economic School; University of Warwick
摘要：In the early twentieth century, a large number of households resettled from the European to the Asian part of the Russian Empire. We propose that this dramatic migration was rooted in institutional changes initiated by the 1906 Stolypin land titling reform. One might expect better property rights to decrease the propensity to migrate by improving economic conditions in the reform area. However, this titling reform increased land liquidity and actually promoted migration by easing financial con...
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作者：Claessens, Stijn; Ueda, Kenichi; Yafeh, Yishay
作者单位：International Monetary Fund; University of Amsterdam; Center for Economic & Policy Research (CEPR); European Corporate Governance Institute; International Monetary Fund; Hebrew University of Jerusalem; University of Tokyo
摘要：Using an enhanced version of the standard investment model, we estimate how institutions affect financial frictions at the firm (micro) level and, through the required rate of return, at the country (macro) level. Based on some 78,000 firm-year observations from 40 countries over the period 1990-2007, we show that good shareholder rights lower financial frictions, especially for firms with large external finance relative to their capital stock (e.g., small, growing or distressed firms). Howeve...
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作者：Hungerman, Daniel M.
作者单位：University of Notre Dame; National Bureau of Economic Research
摘要：A large literature explores crowd out in situations where public goods are jointly provided; work in this area typically depicts a tax system where individuals take taxes as given. But in some settings, such as those in developing economies, efforts to evade or avoid taxes may be widespread. Using the canonical warm-glow model, this paper considers joint public-good provision in a setting where individuals can evade taxes by hiding their income. The model's implications change significantly in...
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作者：Bobonis, Gustavo J.; Morrow, Peter M.
作者单位：University of Toronto; Canadian Institute for Advanced Research (CIFAR)
摘要：This paper examines the effect of labor coercion on human capital accumulation. We use micro data from Puerto Rico, where unskilled laborers were forced to work for landowners during 1849-1874. Using variation in municipality-level suitability for coffee cultivation and international coffee prices, we estimate the response of schooling to exogenous increases in relative demand for unskilled labor in regimes with and without forced labor. During the coercive regime, increased coffee prices had ...
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作者：Hoff, Karla; Pandey, Priyanka
作者单位：The World Bank
摘要：It is typically assumed that being hard-working or clever is a trait of the person, in the sense that it is always there, in a fixed manner. However, in an experiment with 288 high-caste and 294 low-caste students in India, cues to one's place in the caste system turned out to starkly influence the expression of these traits. The experiment allows us to discriminate between two classes of models that give different answers to the question of how someone's identity affects his behavior. Models ...
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作者：Jaimovich, Esteban; Rud, Juan Pablo
作者单位：University of Surrey; University of London
摘要：We propose a model where the size of the public sector and aggregate output are interrelated through the occupational choice of agents who differ in their skill level and degree of public-mindedness. When the public sector attracts bureaucrats with low degree of public service motivation, they will use their position to rent seek by employing an excessive number of unskilled workers. This leads to an equilibrium with relatively high unskilled wages, which lowers profits and deters entrepreneur...
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作者：Zhou, Weina
作者单位：Dalhousie University
摘要：This study analyzes the effect of the number of brothers an individual has on that individual's household savings rate under the current underdeveloped household financial market in urban China. I show that having an additional brother reduces an individual's household savings rate by at least 5 percentage points. Brothers help households (1) by sharing risks, providing a source of informal borrowing, and (2) by sharing the cost of supporting parents. Sisters play a minor role in affecting a h...
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作者：Ali, Daniel Ayalew; Deininger, Klaus; Goldstein, Markus
作者单位：The World Bank
摘要：We evaluate the short-term impact of a pilot land regularization program in Rwanda using a geographic discontinuity design with spatial fixed effects. Three key findings emerge from the analysis. First, the program seems to have improved land access for legally married women (about 76% of married couples) and prompted better recording of inheritance rights without gender bias. Second, we find that the program was associated with a very large impact on investment and maintenance of soil conserv...
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作者：Gutierrez, Federico H.
作者单位：Vanderbilt University
摘要：Economic development is associated with an increase in the share of workers in salaried jobs. This process may be accompanied by a reduction in wage fluctuations if labor contracts are used as income smoothing mechanisms. This paper tests to what extent salaried jobs help reduce the volatility of wages by insuring workers against productivity shocks. Analysis of MxFLS data indicates that the average contractual arrangement in Mexico insures the worker against idiosyncratic productivity fluctua...
