The coronavirus (COVID-19) pandemic has halted economic activity worldwide, hurting firms and pushing them toward bankruptcy. This paper provides a unified framework to organize the policy debate related to firm financing during the downturn, centered along four main points. First, the economic...

This paper analyzes the effects of the 2014-15 Chilean tax reform on firms' incentives to retain earnings and finance their operations with equity versus debt. The analysis comprises a comparison with the situation of the pre-reform period, and draws some conclusions about firms' valuation. The...

This paper provides experimental evidence of the effect of having peers with different propensities for violence in the context of an afterschool program. By randomly assigning students to participate in the program with a set of similar or diverse peers in terms of violence, the study measures...

In patriarchal societies, sticky norms affect married women's social circles, their autonomy, and the outcomes of intra-household bargaining. This paper uses primary data on women's social networks in Uttarakhand, India; the modal woman has only three friends, and over 80 percent do not have any...

The paper develops a new theory of group discrimination in which the discrimination in favor or against certain groups is simply a coordination device. It is built on the axiom that a person who gets to perform many tasks is more effective in carrying out each task, which implies increasing...

Socioeconomic segregation is often decried for denying poorer children the benefits of positive' peer effects'. Yet standard, linear-in-means models of peer effects (a) implicitly assume that segregation is zero sum, with gains and losses to rich and poor perfectly offsetting, and (b) rule out...

This paper compares the intergenerational mobility of educational and occupational attainment of men from disadvantaged groups (Scheduled Castes (SC) and Scheduled Tribes (ST)) in India with the intergenerational mobility of men outside these groups during 1983-2009. Although there has been a...

This paper investigates the presence of endogenous peer effects in the adoption of formal property rights. Using data from a unique land titling experiment held in an unplanned settlement in Dar es Salaam, the analysis finds a strong, positive impact of neighbor adoption on the household's...

The paper discusses the main features that distinguish inter-firm international trade finance from alternative sources of financing. On the one hand, inter-firm trade finance could help overcome informational problems associated with other lending relationships; on the other, it may contribute...

This paper identifies separate and unique pathways to profits among small businesses in South Africa that are exposed to marketing or finance training in a randomized control study. The marketing group achieves greater profits by adopting a growth focus on higher sales, greater investments in...