The price elasticity of demand for credit has major implications for macroeconomics, finance, and development. We present estimates of this parameter derived from a randomized trial. The experiment was implemented by a consumer microfinance lender in South Africa and identifies demand curves...

Expanding credit access is a key ingredient of development strategies worldwide. Microfinance practitioners, policymakers, and donors have ambitious goals for expanding access, and seek efficient methods for implementing and evaluating expansion. There is less consensus on the role of consumer...

Informal lending and savings institutions exist around the world, and often include regular door-to-door deposit collection of cash. Some banks have adopted similar services in order to expand access to banking services in areas that lack physical branches. Using a randomized control trial, we...

We use unique data characterizing individual Savings for twins and non-twins in urban China to examine why the savings rates of the young are elevated relative to the middle-aged, despite rising individual life-cycle incomes. We show that inter-generational co-residence masks the true life-cycle...

Microcredit seeks to promote business growth and improve well-being by expanding access to credit. We use a field experiment and follow-up survey to measure impacts of a credit expansion for microentrepreneurs in Manila. The effects are diffuse, heterogeneous, and surprising. Although there is...

Ireland's relatively late and feeble fertility transition remains poorly-understood. The leading explanations stress the role of Catholicism and a conservative social ethos. This paper reports the first results from a project that uses new samples from the 1911 census of Ireland to study...

Using micro-data from 1984 and 1993 in the Czech Republic and Slovakia, this paper estimates a dynamic stock adjustment model, relating observed drops in fertility post-Communism to new wages, prices, and risks. Earnings influence total demand for children during Communism through substitution...

The decline of human fertility that occurred in Europe and North America in the nineteenth century, and elsewhere in the twentieth century, remains a topic of debate largely because there is no accepted explanation for the event. Disagreement persists in part because researchers have rarely used...

Using Current Population Survey (CPS) data from 1989 to 1999, we examine the impact of family cap policies, which deny incremental welfare benefits, on out-of-wedlock birth rates. We use the first five states that were granted waivers from the Department of Health and Human Services to implement...

We use a model of human capital investment and activity choice to explain facts describing gender differentials in the levels and returns to human capital investments. These include the higher return to and level of schooling, the small effect of healthiness on wages, and the large effect of...