Poor sanitation is an important policy issue facing India, which accounts for over half of the 1.1 billion people worldwide that defecate in the open [JMP, 2012]. Achieving global sanitation targets, and reducing the social and economic costs of open defecation, therefore requires effectively...

What shapes the optimal degree of progressivity of the tax and transfer system? On the one hand, a progressive tax system can counteract inequality in initial conditions and substitute for imperfect private insurance against idiosyncratic earnings risk. At the same time, progressivity reduces...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labour supply, and consumption/saving...