We develop a model of child labour where poverty and inequality combine to determine policy response to child labour. If there are strategic complementarities between parents' decisions to educate their children and firms' technology choice, multiple school-enrolment equilibria arise. Only rich...

In this paper we gauge consumption and portfolio shares, rather than the traditional pricing implications. We study both aggregated (financial, tangible, and human) and disaggregated (deposits, stocks, insurance, and pensions) assets. The empirical shares are computed from recent aggregate...

Using a realtime random regime shift technique, we identify and discuss two different regimes in the dynamics of credit spreads during 2002-2012: a liquidity regime and a default regime. Both regimes contribute to the patterns observed in credit spreads. The liquidity regime seems to explain the...

The object of this study is to isolate the effect of geographical accessibility of pati ents to medical resources on the demand of heart revascularization. T he authors use data from Quebec. Their results show significant relat ionships between accessibility, distance, and demand. On one hand,...