Too often, academics and policy makers interpret formality as a binary choice and formalization as an irreversible process. Yet, formalization has many facets and shades on the business and labor fronts, and firms may not be able or willing to formalize all at once. This paper explores the joint...

We examine how institutions that enforce contracts between two parties, producers and consumers, interact in a competitive market with one-sided symmetric information and productivity shocks. We compare an informal enforcement mechanism, reputation, the efficacy of which is enhanced by consumers...

This paper reviews the role of Social Protection and Labor in supporting both climate adaptation and mitigation efforts. The Climate Crisis is impacting the poor and vulnerable disproportionally, both as a consequence of climate shocks and through the distributional impacts of climate mitigation...

Middle class values have long been perceived as drivers of social cohesion and growth. In this paper we investigate the relation between class (measured by the position in the income distribution), values, and political orientations using comparable values surveys for six Latin American...

We revisit the link between poverty, the middle class and institutional outcomes using a newly developed cross-country panel dataset containing detailed information on the distribution of income and expenditures. When the size of the middle class increases (measured as the proportion of people...

Adopted on September 8 of 2000, the United Nations Millennium Declaration stated as its first goal that countries ...[further] resolve to halve, by the year 2015, the proportion of the world's people whose income is less than one dollar a day and the proportion of people who suffer from...