This article investigates the impact of labor market regulations in a setting with incomplete compliance. It takes as its starting point the limited evidence regarding the distortionary costs of labor market regulations and argues that there may exist natural limits to the efficiency losses...

This article presents a new data set on inequality in the distribution of income. The authors explain the criteria they applied in selecting data on Gini coefficients and on individual quintile groups' income shares. Comparison of the new data set with existing compilations reveals that the data...

In a risky world should governments provide public goods that reduce risk or compensate the victims of bad outcomes through social insurance? This article examines a basic question in designing social protection policies: how should a government allocate a fixed budget between these two...

Primarily a disease of young adults, aids imposes economic costs that could be devastatingly high in the long run by undermining the transmission of human capital--the main driver of long-run economic growth--across generations. aids makes it harder for victims' children to obtain an education...