In Deutschland, aber auch im Euroraum hat die historisch beispiellose expansive Geldpolitik der Europäischen Zentralbank den rückläufigen Zinstrend beschleunigt und zu einem ausgeprägten Niedrigzinsumfeld geführt. Mittlerweile gehen von der Geldpolitik aber kaum noch realwirtschaftliche...

Community-based interventions, particularly group-based ones, are considered to be a cost-effective way of delivering interventions in low-income settings. However, design features of these programs could also influence dimensions of household and community behaviour beyond those targeted by the...

Community-based interventions, particularly group-based ones, are considered to be a cost-effective way of delivering interventions in low-income settings. However, design features of these programs could also influence dimensions of household and community behaviour beyond those targeted by the...

This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 19802009. The findings provide new robust evidence on how remittances are used in...

This paper analyzes dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex-ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex-post. In any given period, after having observed her income, the agent...

We analyze efficient risk-sharing arrangements when coalitions may deviate. Coalitions form to insure against idiosyncratic income risk. Self-enforcing contracts for both the original coalition and any deviating coalition rely on a belief in future cooperation which we term \social capital". We...

We characterize how public insurance schemes are constrained by hidden financialtransactions. When non-exclusive private insurance entails increasing unit transaction costs,public transfers are only partly offset by hidden private transactions, and can influenceconsumption allocation. We show...

This paper analyzes dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex-ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex-post. In any given period, after having observed her income, the agent...

We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...

This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 19802009. The findings provide new robust evidence on how remittances are used in...