Credit contracts play a direct role in pooling risk between households in northern Nigeria. Repayments owed by borrowers depend on realizations of random shocks by both borrowers and lenders. The paper develops two models of state-contingent loans. The first is a competitive equilibrium in...

In this paper, we address the issues of whether reductions in fertility increase human capital investments per child and whether twinning can identify the quantity—quality (Q-Q) trade-off. We show that estimates of the effects of twinning at higher parities on the outcomes of older children in...

In this paper, we address the issues of whether reductions in fertility increase human capital investments per child and whether twinning can identify the quantity-quality (Q-Q) trade-off. We show that estimates of the effects of twinning at higher parities on the outcomes of older children in...