We propose a small open economy model where agents borrow internationally and invest in liquid foreign assets to insure against liquidity shocks, which temporarily shut out the economy of short-term credit markets. Due to the presence of a pecuniary externality individual agents borrow too much...

This paper introduces a new effective exchange rate regime classification. Traditional classifications define the stability or flexibility of a currency with respect to one ("anchor") currency, thus implicitly neglecting information on exchange rate relationships against other currencies. Our...

This study examines the effect of two different finance trainings on business outcomes. The first training is based on a "rule-of-thumb" approach, teaching simple financial rules. The content of the second training is exactly the same but additionally provides personalized feedback on past...

Using micro-level data coming from household surveys over 5 years, from 2013 to 2017, we analyse what are the determinants of mobile broadband adoption in developing economies. We provide empirical evidence on the presence of a learning effect stemming from mobile money use, which by providing a...

Broadband is seen as a vector of economic growth and social development. In the developing world, mobile technologies are widely adopted and mobile broadband is progressively rolled-out with high expectations on its impact on the countries' development. We highlight what the determinants of...

In this paper, we investigate whether and how households adjust their agricultural practices such as cultivation and livestock to adapt to a severe typhoon. We, therefore, make use of a natural experiment coming from the strong typhoon Ketsana in 2009. We apply the difference-in-differences...

After 2008, the Southern European economies suffered a strong and persistent increase in unemployment. Rising government bond spreads necessitated the implementation of austerity policies. Austerity however, may increase unemployment. If workers lose human capital during unemployment spells, the...