and of the flexibility and freedom of its labor market. But estimation of mobility using panel data is biased by the …

spectacularly narrowed down, but this effect is dwarfed by that of world-price volatility. A counterfactual analysis based on a … contributed to raise purchase prices and the cash income of vanilla farmers. But the effect on farmers' consumption remains small …

"In contrast with a growing literature on the drivers of aggregate volatility in developing countries, its consequences … aggregate volatility has a regressive, asymmetric, and non linear impact, as reflected in the strong influence of extreme output … protection exert a similar benign effect. These findings are in line with the income substitutions view of social safety nets …