We argue that financial frictions and financial shocks can be an important factor behind the slow recoveries from the three most recent recessions. To illustrate this point, we augment a simple RBC model with a collateral constraint whose tightness is randomly disturbed by a shock that...

We argue that financial frictions and financial shocks can be an important factor behind the slow recoveries from the three most recent recessions. To illustrate this point, we augment a simple RBC model with a collateral constraint whose tightness is randomly disturbed by a shock that...

This paper examines inter-generational persistence in child labor by developing a dynamic model and exploring its implications empirically in Brazil. We begin by building a simple overlapping generations model of the household child labor decision. We assume that this decision is made by the...

This paper examines the effects of birth order on the child labor incidence and school attendance of Brazilian children. Evidence from the psychology and sociology literature suggests that earlier-born children tend to have higher innate abilities. The economic implications of these findings are...

In this paper we examine intra-household gender differences and the incidence of child labor and children�s school attendance in Brazil to test whether the unitary model of household allocations is suitable in the child labor context. We begin by building an intra-household allocation model...

The paper estimates the impact on school attendance and child labor of conditional cash payments to poor families in Brazil. It describes Brazil's transfer programs and presents statistics on school attendance and child labor. In the second half of the 1990s, many municipalities had adopted the...