There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into food and nonfood inflation and assessing whether...

How does law change society? In the rational actor model, law affects behavior only by changing incentives and information-the command and coordination function of law. Under the view that humans are social animals, law is also a guidepost for social norms that regulate behavior-the expressive...

We provide one of the first attempts at explaining the differences in the crisis impact across developing countries and emerging markets. Using cross-country regressions to explain the factors driving growth forecast revisions after the eruption of the global crisis, we find that a small set of...