Schooling has been shown to provide substantial externality benefits by increasing farm output and shifting the production frontier outwards. This paper investigates the role of schooling at the household- and site-levels in the adoption and diffusion of agricultural innovations in rural...

The methodology by Lazear and Michael (1988) is used to decompose household expenditures into that for adults and children. Some specific estimation procedures are modified and cross section-time series (panel) data are used to control for household level heterogeneity. In addition, a new and...

The paper tests the hypothesis that the consistent neutrality of the Danish Monarchy during the great wars of the eighteenth century may have permanently increased the kingdom’s shipping in the Mediterranean. It does so by using data derived from Algerian Passport Registers for...

Researchers commonly assume that business groups, a ubiquitous organizational form in emerging markets, permit affiliated firms to share risk by smoothing income flows and by reallocating money from one affiliate to another in times of distress. This view has received support in the literature...

The Basel Committee on Banking Supervision is proposing to introduce, in 2006, new risk‑based requirements for internationally active (and other significant) banks. These will replace the relatively risk‑invariant requirements in the current Accord. This article examines the implications of...

We examine the relation between firm value and managerial incentives in a sample of 1,487 U.S. firms in 1992-1997, for which the separation of ownership and control is complete. Unlike previous studies, we employ a measure of relative performance which compares a firm’s actual...

Commodity export price uncertainty is typically measured as the standard deviation of the terms of trade, but this approach encounters at least three objections. First, terms of trade indices are unsuitable as proxies for commodity price movements per se. Secondly, the shortness of terms of...

Overseers’ vested interests played an important role in shaping local poor relief provision under the Old Poor Law. In the industrial town of Bolton the Relief Order books for the 1820s reveal an unusual emphasis upon the payment of paupers’ rent by the parish. This...

Broadly and narrowly measured unemployment rates differ very markedly in certain countries, and the measure chosen to be the ‘official’ unemployment rate affects perceptions about the extent of the problem. The appropriate measure of the unemployment rate depends on...

We model the interaction between two economies where banks exhibit both adverse selection and moral hazard and bank regulators try to resolve these problems. We find that liberalising bank capital flows between economies reduces total welfare by reducing the average size and efficiency of the...