Because of risk aversion, any sensible investment valuation system should value less Projects that contribute more to the aggregate risk, i.e., that have a larger income elasticity of net benefits. In theory, this is done by adjusting discount rates to consumption betas. But in reality, for...

Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes. Even without leverage higher tax rates implied lower betas when tax deductions were risk free. Here they are risky, and marginal investment is taxed together with inframarginal...

Levy and Arditti (1973) introduced depreciable assets into the Modigliani and Miller (1958) model, and analyzed the implications for the cost of capital. Assuming that the firm reinvests indefinitely to maintain a constant expected cash flow, they found that depreciation increases the cost of...

Cognitive behavioral therapy (CBT) has become a powerful and effective tool to deal with violence in many at-risk areas in the world. However, its use for gender-based violence (GBV) and dating violence, although promising, has been limited and used as a response service for survivors, rather...

Job training programs can be an eective policy for improving productivity and labor market outcomes in low and middle income countries. We report medium and long-term impacts of a job training program for vulnerable workers in Chile on labor market and skill outcomes using experimental and...

In many developed countries, abandoned (derelict or underused) industrial areas often occupy important parts of the cities. This raises issues about the possibilities of reusing these areas as well as on the conservation of industrial heritage they often entail. Conjoint Analysis (CA) can shed...

This paper documents the effects of an intervention on knowledge sharing, in which information embedded in efficient private organizations is used to improve bureaucratic procedures of public agencies. In particular, it analyzes the impact of the Knowledge for Results (K4R) program on the...

Do quality at entry assessments enhance the delivery of development projects? In this paper we take advantage of approval and execution systems in place at the Inter-American Development Bank (IDB) to examine whether projects that have higher quality at entry-captured through grading scores...

This study assesses the impact of the Program for Rural Development and Family Agriculture (PRODAF), a smart subsidies project that benefited the family farming stratum in northeastern Argentina. The evaluation draws on two complementary data sources. The first is a survey of agricultural...

This study assesses the impact of the Program for Rural Development and Family Agriculture (PRODAF), a smart subsidies project that benefited the family farming stratum in northeastern Argentina. The evaluation draws on two complementary data sources. The first is a survey of agricultural...