This paper presents estimates of rural and urban poverty and inequality for the 61 constituent "regions" of India's 16 major states in 1987-88, based on National Sample Survey data. The estimates are also used for preliminary investigation of selected issues, including the regional patters of...

In this paper the existence of unemployment is partly explained as being the result of coordination failures. This is achieved by considering a standard general equilibriummodel and splitting the set of commodities in two groups. The first group contains commodities like gold. The prices of...

This paper outlines a 15-year program for implementing the 2015 Human Development targets while resolving fully the debt overhang problem for a set of 49 poor countries. The proposal requires additional contributions from 23 rich countries amounting to 0.1 of 1% of their GDP over each of the 15...

A stock market is a mechanism by which the ownership and control of firms is determined through the trading of securities. It is on this market that many of the major risks faced by society are shared through the exchange of securities and the production decisions that influence the present and...

The paper presents an analysis of the coexistence of daily-wage and piece-rate contracts in agrarian economies. We show that, when individual effort is taken into account, daily-wage labourers typically form a convex set in the space working ability. The most able and the least able labourers...