We explore the impact of reduced transaction costs on risk sharing by estimating the effects
of a mobile money innovation on consumption. In our panel sample, adoption of the …

This paper provides a critical survey of the large literature on the life cycle model of
consumption, both from an empirical and a theoretical point of view. It discusses several …

Informal insurance is an important risk-coping mechanism in developing countries, yet this
risk sharing is incomplete. Models of limited commitment, moral hazard, and hidden income …

We explore steady-state inequality in an intergenerational model with altruistically linked
individuals who experience privately observed taste shocks. When the welfare function …

Can historical wealth distributions affect long-run output and inequality despite “rational”
saving, convex technology and no externalities? We consider a model of equilibrium short …

Автор статьи оспаривает точку зрения, согласно которой в странах, осуществляющих
модернизацию экономики, рост неравенства неизбежен и представляет собой …

We study a fiscal policy model in which the government is present‐biased towards public
spending. Society chooses a fiscal rule to trade off the benefit of committing the government …

Книга АЮ Шевякова «Мифы и реалии современной социальной политики» была
написана автором незадолго до его внезапной смерти. Редактирование и подготовка к …

We develop a theoretical framework in which political and economic cycles are jointly
determined. These cycles are driven by three political economy frictions: policymakers are …

M. Jensen and K. Murphy (1990, J. Polit. Econ. 98, 225–264) argue that the observed pay–
performance sensitivity of CEO compensation is too low to be consistent with formal agency …