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Agricultural Decisions after Relaxing Credit and Risk Constraints
Karlan, Dean S.; Osei, Robert; Osei-Akoto, Isaac; Udry, … - C.E.P.R. Discussion Papers - 2012
The investment decisions of small-scale farmers in developing countries are conditioned by their financial environment … conducted several experiments in northern Ghana in which farmers were randomly assigned to receive cash grants, grants of or …, farmers are able to find resources to increase expenditure on their farms. Demand for insurance in subsequent years is …
Persistent link: https://www.econbiz.de/10011083318
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Self-Selection into Credit Markets: Evidence from Agriculture in Mali
Beaman, Lori; Karlan, Dean S.; Thuysbaert, Bram; Udry, … - C.E.P.R. Discussion Papers - 2014
random subset of farmers who (endogenously) did not borrow. These farmers have lower – in fact zero – marginal returns to the … grants. Thus we find important heterogeneity in returns to investment and strong evidence that farmers with higher marginal …
Persistent link: https://www.econbiz.de/10011083397
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A DSGE Model of China
Dai, Li; Minford, Patrick; Zhou, Peng - C.E.P.R. Discussion Papers - 2014
We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping's reforms up until the crisis period. Bayesian ranking methods are heavily influenced by controversial priors on the degree of price/wage rigidity. When the overall models are tested...
Persistent link: https://www.econbiz.de/10011083573
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A DSGE Model of China
Dai, Li; Minford, Patrick; Zhou, Peng - C.E.P.R. Discussion Papers - 2014
We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping's reforms up until the crisis period. Bayesian ranking methods are heavily influenced by controversial priors on the degree of price/wage rigidity. When the overall models are tested...
Persistent link: https://www.econbiz.de/10011084701
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Evaluating An Estimated New Keynesian Small Open Economy Model
Adolfson, Malin; Laséen, Stefan; Lindé, Jesper; … - C.E.P.R. Discussion Papers - 2007
This paper estimates and tests a new Keynesian small open economy model in the tradition of Christiano, Eichenbaum, and Evans (2005) and Smets and Wouters (2003) using Bayesian estimation techniques on Swedish data. To account for the switch to an inflation targeting regime in 1993 we allow for...
Persistent link: https://www.econbiz.de/10005661438
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Profitability of fertilizer: Experimental evidence from female rice farmers in Mali
Beaman, Lori; Karlan, Dean S.; Thuysbaert, Bram; Udry, … - C.E.P.R. Discussion Papers - 2013
In an experiment providing fertilizer grants to women rice farmers in Mali, we found that women who received fertilizer …. This highlights that farmers respond to an increase in availability of one input by re-optimizing other inputs, making it … small compared to other sources of variation. This may make it difficult for farmers to observe the impact of fertilizer on …
Persistent link: https://www.econbiz.de/10011083496
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The Regulation of Land Markets: Evidence from Tenancy Reform in India
Besley, Timothy J.; Leight, Jessica; Pande, Rohini; … - C.E.P.R. Discussion Papers - 2012
While the regulation of tenancy arrangements is widespread in the developing world, evidence on how such regulation influences the long-run allocation of land and labor remains limited. To provide such evidence, this paper exploits quasi-random assignment of linguistically similar areas to...
Persistent link: https://www.econbiz.de/10011084658
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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model
Eijffinger, Sylvester C W; Grajales, Anderson; Uras, … - C.E.P.R. Discussion Papers - 2015
In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting schemes: sticky prices, sticky information, rule of...
Persistent link: https://www.econbiz.de/10011249376
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Fiscal Volatility Shocks and Economic Activity
Fernández-Villaverde, Jesús; Guerron-Quintana, Pablo A.; … - C.E.P.R. Discussion Papers - 2011
We study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable uncertainty about...
Persistent link: https://www.econbiz.de/10009246602
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Asset Pricing under Rational Learning about Rare Disasters
Koulovatianos, Christos; Wieland, Volker - C.E.P.R. Discussion Papers - 2011
This paper proposes a new approach for modeling investor fear after rare disasters. The key element is to take into account that investors' information about fundamentals driving rare downward jumps in the dividend process is not perfect. Bayesian learning implies that beliefs about the...
Persistent link: https://www.econbiz.de/10009201120