This paper investigates precautionary saving under liquidity constraints in Pakistan using household panel data. In particular, while it estimates Kimball's [Kimball, M.S. Precautionary saving in the small and in the large. Econometrica 1990; 58; 53-73.] prudence parameter based on a framework that is...

This paper aims to identify the obstacles to school progression by using field surveys that were conducted in twenty-five Pakistani villages. The full-information maximum likelihood (FIML) estimation of the sequential schooling decision model reveals important dynamics of the gender difference...