Hundreds of millions of children are losing learning opportunities, resulting in potentially large losses in their lifetime education, health, income, and productivity. Losses in long-term earnings from preprimary program closures due to COVID-19 can be unprecedented. Acute effects are plausible...

We study a quantitative DSGE model linking a state of the art asset pricing framework à la Kung and Schmid (2015) with a constraint on leverage as in Gertler and Kiyotaki (2010). We show that a mere increase in the probability of firms being financially constrained leads to an increase in risk...

This paper tests the impact of ICT on economic growth for underdeveloped and developing countries by using a panel dataset for the period of 1995-2006. We first develop the theory between ICT and economic growth. We show that ICT-capital has a positive effect both on long-run and transitional...