Poverty and mortality are arguably the two major sources of loss of well-being. Most mainstream measures of human development capturing these two dimensions aggregate them in an ad-hoc and controversial way. This paper develops a new index aggregating the poverty and the mortality observed in a...

It has recently been suggested in the agency literature that moral hazard in teams can be dealt with by introducing a third party who breaks the budget-balancing constraint, and that this facilitates the design of contracts that can sustain the Pareto optimum as a (perfect) Nash equilibrium....

This paper investigates the welfare effects on the South of quality-biased technical progress in North's export sector. North exports a quality-differentiated good. while South exports a homogeneous good. We find that if northern technical progress is quality-neutral, the South must gain, but if...