In this note, we show that the least fixed point of the Bellman operator in a certain set can be computed by value iteration whether or not the fixed point is the value function. As an application, we show one of the main results of Kamihigashi (2014, "Elementary results on solutions to the...

This study investigates whether mother's empowerment measured by her education attainment relative to father's, domestic violence and autonomy is related to children's nutritional status using the three rounds of NFHS data in India. First, mother's relative education is associated with better...

If market economy are to work, they need institutions of economic governance. In traditional economics, there seems universal agreement that the framework of contract law provided by the government is a necessary condition for a market economy to work. Recently, the complementary relationship...

This paper studies the determinants of size differentials between fiscal multipliers in countries around the world, both advanced and developing economies. Besides domestic conditions and exchange rate regimes, we also introduce variables not before considered for explaining multiplier size...