Households in many poor, agrarian economies derive their income from rain-dependent agriculture. This dependence raises the possibility that,from rainfall patterns early on in the crop-cycle, households accumulate information about future cash inflows (e.g., harvests) before the cashflows are...

Under the Agreement on Trade-Related Intellectual Property Rights, the World Trade Organization members are required to enforce product patents for pharmaceuticals. In this paper we empirically investigate the welfare effects of this requirement on developing countries using data for the...

Will economic growth inevitably degrade the environment, throughout development? We present a household-level framework emphasising the trade-off between consumption that causes pollution and pollution-reducing abatement. Our model provides a simple explanation for upward-turning, non-monotonic...