This paper studies the relationship between civil war and HIV/AIDS in Burundi. It contributes to the empirical literature by providing micro level evidence using an identification strategy based on original data on the dynamics of rebel movements. The presence of exit and entry points from and...

There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...

Height-for-age (HA) and weight-for-age (WA) of children are standard measures to study the determinants of stunting and short-term underweight. Rather than studying these indicators separately, this paper looks at their interaction and therefore at the dynamics of height and weight. Considering...

The National Monetary Commission was deeply concerned with importing best practice. One important focus was the connection between the money market and international trade. It was said that Britain’s lead in the market for “acceptances” originating in international trade was the basis of...

This paper tests the generalized Trivers Willard hypothesis, which predicts that parents with heritable traits that increase the relative reproductive success of males compared to females will have relatively more males than females. As in Kanazawa (2005) we test if taller mothers have...

This paper investigates the role of banks’ foreign asset holdings in transmitting credit risk internationally. Foreign exposure in risky assets might severely affect the solvability of credit institutions. Credit risk, in turn, transfers from banks to public accounts as a consequence of...

This paper uses detailed information on the latitude and longitude of conflict events within a set of Sub-Saharan African countries to study the impact of external income shocks on the likelihood of violence. We consider a number of external demand shocks faced by the country or the regions...

The real unit labor cost is an important variable in today’s debate over compet- itiveness and labor cost imbalances in the Eurozone. This paper documents the link existing between developments in the labor share and relative monetary policy stance across euro area members. First I present the...

Countries with weaker domestic institutions hold fewer foreign assets and exhibit concentrated corporate ownership. An equilibrium business cycle model of international capital ows with corporate governance frictions between outside investors and insiders explains both phenomena. Investment...