Zum 20. Jubiläum des Human Development Index (HDI) haben die Vereinten Nationen einen Index für menschliche Entwicklung veröffentlicht, der nun auch Ungleichheit berücksichtigt (IHDI). Länder mit großen sozialen Disparitäten, insbesondere mittel- und südamerikanische Staaten, schneiden...

Marking the 20th anniversary of the Human Development Index (HDI), the United Nations Development Programme (UNDP) has published a revised measure that also accounts for inequality (IHDI). Countries subject to severe social disparities, particularly Central and South American countries, perform...

In this paper we �first develop a theory of almost stochastic dominance for risk-seeking investors to the first three orders. Thereafter, we study the relationship between the preferences of almost stochastic dominance for risk-seekers with that for risk averters.

This paper investigates the impact of background risk on an investor’s portfolio choice in a mean-VaR, mean-CVaR and mean-variance framework, and analyzes the characterizations of the mean-variance boundary and mean-VaR efficient frontier in the presence of background risk. We also consider...

Exploiting Tangshan 1976 - the deadliest earthquake in the 20th century - as a source of exogenous variation, we estimate the long-run effect of a historical shock on contemporary socio-economic outcomes. Cohorts born after the earthquake were not only larger, but exhibit lower school completion...

We address the pitfalls of averaging by exploiting the longitudinal variation in aid to identify sudden and sharp increases in aid flows. Focusing on specific events, we test if aid accelerations correspond to policies and shocks in the recipient country. For a large sample of 145 recipient...

We address the pitfalls of averaging by exploiting the longitudinal variation in aid to identify sudden and sharp increases in aid flows. Focusing on specific events, we test if aid accelerations correspond to policies and shocks in the recipient country. For a large sample of 145 recipient...

Exploiting Tangshan 1976 - the deadliest earthquake in the 20th century - as a source of exogenous variation, we estimate the cohort-specific effects of a historical shock on contemporary socio-economic outcomes. While cohorts born after the earthquake were considerably larger, the adverse...

This paper reviews the channels through which empowerment may improve the efficiency and quality of public service delivery, particularly in developing Asia. Departing from a macro perspective, we focus and revisit microeconomic evidence for three broad measures aimed at empowering the poor:...

In this Policy Briefing we address the question of whether there is a coherent and consistent policy when it comes to giving development aid. While one would theoretically argue that aid provision should be based on objective criteria set out to optimize governments' behavior or people's...