In this paper, I make an attempt to understand the efficacy of some of the current fiscal stimuli being implemented to deal with the ongoing economic disaster precipitated by COVID-19. The focus is on pecuniary externalities working through the demand side, for they seem crucial for recovery. I...

Why is religiosity in contemporary America exceptionally high relative to those in other rich countries? I develop a simple theory that hinges on the sense of security of immigrant-identity, which is informed by both religion and ethnicity. Commitments to religion and to ethnicity are...

We propose a theory of the origins of India's caste system by explicitly recognizing the productivity of women in complementing their husbands' occupation-specific skill. The theory explains the core features of the caste system: its hereditary and hierarchical nature, and its insistence on...