(Documento disponible en inglés) ¿Existe una relación entre educación y democracia? Una vez que se introduce una corrección de la debilidad de instrumentos y se describe a la educación como `débilmente exógena`, se hallan nuevos elementos de juicio de que la educación predice la...

Porqué los donantes bilaterales intermedian la ayuda a través de una multilateral y no directamente? Este paper sugiere un trade-off: múltiples donantes bilaterales para cada beneficiario puede implicar problemas estratégicos y de coordinación pero mediación a través de una multilateral...

This paper considers a conditional cash transfer program targeting poor households in small rural villages and studies the effects of the geographic proximity between villages on individual enrollment decisions. Exploiting variations in the treatment status across contiguous villages generated...

La literatura sobre la efectividad de la ayuda extranjera se ha enfocado más en las políticas del país que recibe la ayuda que en los determinantes de su distribución. Sin embargo, un resultado consistente es que los aliados políticos obtienen más ayuda de los países donantes que los no...

The literature on aid effectiveness has focused more on recipient policies than the determinants of aid allocation yet a consistent result is that political allies obtain more aid from donors than non-allies. This paper shows that aid allocated to political allies is ineffective for growth,...

El dinero se utiliza como una reserva de valor, un medio de intercambio y una unidad de cuenta. Los más recientes análisis sobre la elección de moneda en un escenario internacional se han enfocado en la denominación de reservas—el rol de reserva de valor. Sin embargo, la información...

Why would bilateral donors intermediate aid through a multilateral and not extend aid directly? This paper suggests a trade-off: multiple bilateral donors for each recipient may imply coordination and strategic problems but intermediating through a multilateral may dilute individual donor...

Money is used as a store of value, a medium of exchange and a unit of account. Most recent analyses of currency choice in an international setting have focused on the denomination of reserves—the store of value role. However, public data are only aggregate and exclude several countries. This...

This paper analyzes various dimensions of the quality of life in Montevideo. The paper finds that satisfaction with various public goods and services at the neighborhood level play a minor role in the overall reported well-being of individuals and in the satisfaction of life domains, such as...

This paper studies the effects of water sector privatization on consumers’ welfare in 46 municipalities in Colombia. First, the privatization process is described. Second, the paper evaluates the impact of privatization on access, price, and quality of water as well as health outcomes using...