The anticipation of a future bailout of distressed firms worsens ex ante adverse selection, causing a market freeze at present and inviting government intervention ("bailout trap"). When firms of heterogenous qualities raise financing, high-quality firms are willing to bear adverse selection...

The development landscape has never been static but in these times of uncertainty and insecurity, we are witnessing ever more profound shifts in global relations, inequalities, and forms of exclusion. Dominant trajectories and paths of ‘development’ have led the world to the brink of...

SIPP is a nationally representative longitudinal survey that provides comprehensive information on the dynamics of income, employment, household composition, and government program participation. It offers a rich variety of information, allowing for examinations of: - Adult and child...