In recent years, Bangladesh has experienced economic growth but not economic development. This paper reviews the Janus-faced nature of the country’s leading growth sector – Readymade Garments (RMG). It is an industry that has fueled growth but is not productive enough to...

Temporary price reductions or “sales†have become increasingly important in the evolution of the price level. We present a model of repeated price competition to illustrate how entry causes incumbents to alternate between high and low prices. Using a six year panel of weekly...

The private market of student loans has become an important source of college financing in the U.S. Unlike government student loans, the terms on private student loans (i.e., credit limits and interest rates) are based on credit scores We quantify the effects of credit scores on college...

In this paper, we consider the extent to which the aggregate happiness of a country affects the flow of people across its borders. We merge data from the World Values Survey, which produces happiness indices for 84 countries between 1981 and 2004, with three different migration datasets. We find...

Economic debate about the consequences of immigration in the US has largely focused on how influxes of foreign-born labor with little educational attainment have affected similarly-educated native-born workers. Fewer studies analyze the effect of immigration within the market for highly-educated...

In deciding upon whether to pursue an undergraduate education in the United States, a foreign student considers the expected probability of securing US employment after graduation. The H-1B visa provides a primary means of legal employment for college-educated foreign-nationals. In October 2003,...