This paper studies the importance of dynamic earnings modeling for the design of income contingent student loans (ICLs). ICLs have been shown to be theoretically optimal in terms of efficiency in the presence of risk aversion, adverse selection and moral hazard, and have attractive equity...

We analyze the removal of the credit-risk guarantees provided by the government-sponsored enterprises (GSEs) in a model with agents heterogeneous in income and house price risk. We find that wealth inequality increases, driven by higher mortgage spreads and housing rents. Housing holdings become...

The microeconomic drivers of medium- and short-term income mobility in Russia over the period 1996–2016 are investigated using data from the Russian Longitudinal Monitoring Survey (RLMS). Focusing on the role of access to credit in triggering household income growth, the descriptive analysis...

This paper studies the importance of dynamic earnings modeling for the design of income contingent student loans (ICLs). ICLs have been shown to be theoretically optimal in terms of efficiency in the presence of risk aversion, adverse selection and moral hazard, and have attractive equity...

The microeconomic drivers of medium- and short-term income mobility in Russia over the period 1996-2016 are investigated using data from the Russian Longitudinal Monitoring Survey (RLMS). Focusing on the role of access to credit in triggering household income growth, the descriptive analysis...

India witnessed high levels of growth in the last decade but national levels of poverty and inequality remain high. Infrastructure provision is seen as a particularly important instrument for helping in regional development where government can play a significant role due to the public goods...