The term" middle-income trap" has entered common parlance in the development policy
community, despite the lack of a precise definition. This paper discusses in more detail the …

Macroeconomic theories have traditionally been tested using nonexperimental field data,
most often national income account data on GDP and its components. This practice follows …

This paper develops a dynamic theoretical model to assess the impact of asset insurance on
poverty and the cost of social protection in developing countries. We analyze the model …

Many of the main scientific challenges in the fields of development, environment, and
resource economics have a microeconomic foundation wherein behavioral elements play a …

Using a common pool resource game protocol with voting we examine experimentally how
cooperation varies with the level at which (binding) votes are aggregated. Our results are …

The effective design and implementation of interventions that reduce vulnerability and
poverty require a solid understanding of underlying poverty dynamics and associated …

Impersonal exchange is the hallmark of an advanced society and money is one key
institution that supports it. Economic theory regards money as a crude arrangement for …

We show that monetary exchange facilitates the transition from small to large-scale
economic interactions. In an experiment, subjects chose to play an “intertemporal …

When government provision of public goods reduces the level of private provision of those
same goods, a process of “crowding out” has taken place. The theoretical channel by which …

The vast majority of commercial transactions are monetary, and new developments in
cryptography and computing have given rise to digital alternatives to traditional peer-topeer …