Does financial development contribute to economic growth? The literature finds that an expansion in financial resources is useful for economic growth if the degree of financial development is under a certain threshold; otherwise, the expansion is detrimental to growth. Almost every published...

Using a lifecycle model of consumption, saving and portfolio choice combined with linked survey and administrative data on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount factors for households and compare these estimates of their...

This study examined the impact of credit received on rural household clean cooking energy consumption. The study pays more attention to clean energies, such as liquefied petroleum gas (LPG) and kerosene. Due to the endogenous issue of credit, we employed an instrumental variable approach...

This paper is devoted to the role of information context in the dynamics of consumption/savings decisions. The deviations from the traditional model of rational expectations are investigated, and the hypotheses of the «rational inattention» are tested. The basis for the study was a selection...

This study reviews Azerbaijan’s fiscal policy implementation and discusses its changes before, during and after the oil boom. Specifically, the period prior to 2005 is considered pre-boom, 2005-2014 is considered the oil boom and the years after 2014 are considered the post oil boom period. It...