Considering a pure exchange economy with habit formation utility, this paper explores the equilibrium relationships between the market pricing kernel, the market prices of risks and the market risk aversion under a continuous time stochastic volatility model completed by liquidly traded put...

Considering a pure exchange economy with habit formation utility, this paper explores the equilibrium relationships between the market pricing kernel, the market prices of risks and the market risk aversion under a continuous time stochastic volatility model completed by liquidly traded put...

India and China have the largest farm-household populations in the world and in many areas also the poorest. Among the many factors that affect farm livelihoods access to credit has been identified as a significant barrier. While there has been a significant literature on credit constraints in...

This paper evaluates the effectiveness of a new index-based livestock insurance (IBLI) product designed to compensate for area average predicted livestock mortality loss in northern Kenya, where previous work has established the presence of poverty traps. We simulate household-specific wealth...

We use a multiyear multiarm randomized controlled trial implemented among 1053 smallholders in Kenya to evaluate ex-ante investment and ex-post productivity and welfare benefits of risk-contingent credit (RCC), comparing it with traditional credit (TC). We rely on local average treatment effects...

One common rationale supporting public financing programs for small firms is that initial public investment creates incentives for follow-on private investment. However, there does not appear to be a unified statement in the literature describing how initial public investment creates incentives...

This paper explores whether agricultural commodities exhibited super-contango during the COVID-19 pandemic. We analyze the impact of the COVID-19 pandemic on the spot price, basis, arithmetic spot price changes, logarithmic spot price changes and arithmetic basis changes of WTI crude, Class III...