Using a unique panel data set for rural households in Zimbabwe we estimate a microeconomic model of growth under uncertainty, a stochastic version of the Ramsey model with livestock as the single asset. We use the estimation results in simulation experiments (over a 20-year period) to quantify...

This study extends the recent debate on the rate of return on cattle rearing in India, triggered by Anagol, Etang, and Karlan (2017) and followed by others, to the Bangladeshi context and finds that the apparent paradox of widespread cattle rearing despite negative returns in India is absent in...