One outcome of the existence of social capital in a community is that individuals will take into consideration the welfare of other members of the community. If an investment project is undertaken that causes the poorer members of society to increase their consumption of goods and services to...

This paper evaluates the impact of the 8-7 Plan, the second wave of China's poverty alleviation program, on rural income growth at the county level over the program's disbursement period, from 1994 to 2000. Program participation was largely determined by whether a county's pre-program income...

This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...

This paper provides an impact evaluation of the Juntos programme on households' decisions to invest in livestock and agricultural and non-agricultural assets used for income generating activities. Using Propensity Score Matching and Difference in Difference techniques, we show: i) that...

We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital accumulation in the energy sector, amplifies the distortion...

The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

We study a dynamic public capital accumulation model with infinitely-lived agents who follow the standard discounted utility model in their roles as consumers and voters. Saving policies are determined sequentially, period-by-period, by majority voting. When there is discounting heterogeneity,...

This study develops a linked regional computable general equilibrium and micro-simulation (RCGE-MS) model to assess the regional economy-wide and poverty impacts of a US$36 million investment in tourism in the south of Haiti. The first social accounting matrix for Haiti with a base year of...

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...