macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in … the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business … that, contrary to what they profess, macroeconomic and political risk is not inhibiting the investment behavior of …

difference, international trade, remittances, and a heterogeneous workforce. We compare welfare under the observed levels of … flows -- such as Jamaica or El Salvador -- are also better off due to migration, but for a different reason: remittances … about 10% in countries with large incoming remittances. Our results are robust to accounting for imperfect transferability …

) experimenting with the new activity is risky, given uncertain prospects at the destination, (b) overcoming the risk requires … subsistence and the risk of failure is very costly. We test a model with these features by examining heterogeneity in take-up and … re-migration, and by conducting a new experiment with a migration insurance treatment. We document several pieces of …

This paper explores implications of the fact that individuals know more than the authorities about their risk of …