We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

Two very different approaches are used to explore the relation between market orientation and gender wage differentials in international data. More market orientation might be related to gender wage gaps via its effects on competition in product and labor markets and the general absence of...

We study the determinants of 19th century mass migration with special attention to the role of institutional factors beside standard economic fundamentals. We find that economic forces associated with income and demographic differentials had a major role in the determination of this historical...

A growing body of empirical work measuring different types of cultural traits has shown that culture matters for a variety of economic outcomes. This paper focuses on one specific aspect of the relevance of culture: its relationship to institutions. We review work with a theoretical, empirical,...

Existing research examining the self-selection of immigrants suffers from a lack ofinformation on the immigrants´ labor force activities in the home country, quotas limiting whois allowed to enter the destination country, and non-economic factors such as internal civilstrife in the home...

We study the efficiency in health systems generated by community health teams, a common strategy in low- and middle-income countries for primary healthcare delivery. We exploit the rollout of a nation-wide expansion of coverage to this model in El Salvador. Using a panel dataset of...

I document negative externalities of air pollution in the Indian agricultural sector. Using variation in pollution induced by changes in wind across years, I show that higher levels of pollution lead to decreased agricultural productivity, with large changes in productivity being common. The...

Exposure to childhood poverty increases the likelihood of adult poverty. However, past research offers conflicting accounts of cross-national variation in the strength of the intergenerational persistence of poverty and the mechanisms through which it is channeled. This study investigates...

Based on point-of-time comparisons of happiness in richer and poorer countries, it is commonly asserted that economic growth will have a significant positive impact on happiness in poorer countries, if not richer. The time trends of subjective well-being (SWB) in 13 developing countries,...

This paper investigates the relationship between part-time work and job satisfaction using a recent household survey from Honduras. In contrast to previous work for developed countries, this paper does not find a preference for part-time work among women. Instead, both women and men tend to...