The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits accrue and the riskiness of the investment. In this paper, we...

Our analysis of a rich representative household survey for Malawi, where patrilineal and matrilineal institutions coexist, suggests that (a) in matrilineal societies the likelihood of high value crop cultivation by a household increases with the extent of land owned by males, while the income...

Land registration and titling in Africa has been seen as a means of legal empowerment of the poor that can protect smallholders' and pastoralists' rights of access to land and other land-based resources. Land registration is also on the ethnojustice agenda in parts of Africa and beyond. Yet...

Despite Japan's highly developed housing market, little is known about the determinants of renter-to-homeowner tenure transition. Exploiting the Japanese longitudinal household data of the Keio Household Panel Survey (2004-2013), this paper aims to close this gap. Our results show that income...

This paper studies the consequences of certain widespread policies for the quality and sustainability of growth. These policies cause economic inefficiency, environmental destruction and increased poverty. The paper develops a political economy model to show why the existence of such policies is...

We analyze households' joint investment decisions for financial wealth and homes. We use a bivariate censored regression model with endogenous switching. Fixed costs or transaction costs are captured by an unobserved nonzero censoring threshold. The model allows for spill-over effects of a...