This paper focuses on the design of a consumption tax in a world of capital risk. The certainty literature discusses two standard options, namely the cash flow method and the pre-payment method (ie, the wage tax), and finds the two approaches to be equivalent. Models that consider capital risk...

This study verifies whether the results of proportional capital income taxation on the risk-taking of a loss-averse investor will still hold when the return of a risky asset has a general continuous distribution. We extend the previous literature, which assumes a binomial distribution of asset...

Bangladesh needs to start afresh with innovative means of financing the provision of health care since in its absence the poor end up relying largely on self-insurance devices to mitigate health risks, which entails high implicit premiums. Existing insurance type programmes essentially consist...

While both microcredit and microinsurance products in the developing world have essentially emerged in a regulatory vacuum, the general consensus appears to be that self-regulation may have thus far served the global microcredit industry adequately. The same premise is likely to be false when it...

This paper examines disease-specific impoverishment impact of out-of-pocket (OOP) payments using a dataset of 3,941 households obtained from a survey conducted in 120 villages of seven districts in Bangladesh. We have estimated the poverty impact of OOP payments by comparing the difference...

In this article, the authors show that a wage tax, which neither alters the relative price of current versus future consumption nor distorts the relative expected return (vis-à-vis the cost) to investing in human capital, leads to biases at both these margins. The authors find that the common...

While both microcredit and microinsurance products in the developing world have essentially emerged in a regulatory vacuum, the general consensus appears to be that self-regulation may have thus far served the global microcredit industry adequately. The same premise is likely to be false when it...