Using two surveys from Bangladesh, this paper provides evidence on the effects of microfinance competition on village moneylender interest rates and households⣠dependence on informal credit. The views among practitioners diverge sharply: proponents claim that MFI competition reduces both the...

As the trade negotiations within the FTAA region become more complicated with many more options for both the United States and its Latin American partners, it becomes more difficult to determine the prime motivation for any of the partners. Some have argued that the US negotiating process can be...

Does excluding food and energy prices from the Consumer Price Index (CPI) produce a measure that captures permanent price changes? To examine this question we decompose CPI inflation and "core" inflation into their permanent and transitory components using a correlated unobserved components...

This paper evaluates the robustness of rankings obtained from composite indices that combine information from two or more components via a weighted sum. It examines the empirical prevalence of robust comparisons using the method proposed by Foster, McGillivray and Seth (2010). Indices examined...

Heat waves, defined as an interval of abnormally hot and humid weather, have been a prominent killer in recent years. With heat waves worsening with climate change, adaptation is essential; one strategy has been to issue heat wave warnings and undertake awareness campaigns to bring about...

This study addresses basic questions concerning the scope and structure of organizations working in development and poverty activities. Under what conditions is work on many or few poverty problems by a single organization warranted? Moreover, for a given organizational scope, how many issues...

This paper constitutes the introductory essay for the special issue of Climate Change Economics, edited by Malik and Smith, forthcoming in 2012, examining adaptation to climate change in low-income countries. The paper first characterizes different types of adaptations from an economic...

The literature on leverage until now shows how an increase in volatility reduces leverage. However, in order to explain pro-cyclical leverage it assumes that bad news increases volatility. This paper suggests a reason why bad news is more often than not associated with higher future volatility....

The WTO system has democratic rights spillovers. In this paper, we show how GATT and WTO rules induce memberstates to advance several democratic rights: specifically political participation, due process and access toinformation. We use qualitative and quantitative tools to examine this process....

In writing The Spirit of Laws in 1748, baron de la Brède et de Montesquieu does not foresee the establishment of the World Trade Organization (WTO) (Montesquieu 1748). Nevertheless, one can employ Montesquieu’s methodology to analyse the functions and dysfunctions of the WTO because his...