Many regulations are based on size thresholds. We develop a model that shows that such regulations distort risk-taking incentives, providing above-threshold firms with greater incentives to take risk and below-threshold firms the opposite. Risk distortion varies nonlinearly as a function of the...

The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organizations

This paper empirically investigates the impact of technology adoption on farmers’ subjective well-being, as measured by happiness and life satisfaction. The technology in focus is hired mechanization services in agricultural production. By fitting a nationally representative panel dataset –...