"The immediate welfare costs of an economywide crisis can be high, but are there also lasting impacts? And are they greater in some geographic areas than others? Ravallion and Lokshin study Indonesia's severe financial crisis of 1998. They use 10 national surveys spanning 1993--2002, each...

"Ravallion and Lokshin use Morocco's national survey of living standards to measure the short-term welfare impacts of prior estimates of the price changes attributed to various trade policy reforms for cereals - the country's main foodstaple. They find small impacts on mean consumption and...