In labor markets where disadvantaged students are discriminated against, meritbased college scholarships targeting these students could convey two opposing signals to employers. There is a positive signal reflecting the candidate's cognitive ability (talented in high-school and able to maintain...

This paper reviews the main causes of the rapid growth of credit in Peru during the 1990s. The creation of new types of lending intermediaries besides traditional banks has allowed debt to increase and credit to be extended to new classes of borrowers such as middle and lower-class urban...