Vandana Shiva argues that through the masculinization of agriculture globalization has turned nature and women into passive fields for sowing. Shiva’s critique that international trade, and globalization more generally, has undermined the social and economic position of women in less developed...

This paper assesses the long-run and short-run (i.e. along the transition path) welfare implications of permanent changes in inflation in an environment with essential money and perfectly competitive markets. The model delivers a monetary distribution that matches moments of the distribution...

A long-standing problem for most business start-ups is acquiring external equity during the first year of operations. In explaining the financing decisions of business start-ups, Meyer’s (1984) pecking order theory serves as a logical working hypothesis. Treating the pecking order to be the...

Over the last few years, considerable attention has focused on aid fragmentation, the proliferation of donors and projects in developing countries. Aid fragmentation has continued to increase despite international efforts to foster donor coordination. One possible implication of fragmentation is...

Recent scholarship has uncovered convincing evidence of systematic donor influence in international financial institutions (IFIs) such as the World Bank. Less clear is how donors influence IFI decisions. Possible avenues are formal and informal: formal influence through official decisions of the...

Through case studies and empirical analysis, scholars have uncovered convincing evidence that individual donors influence lending decisions of international financial institutions (IFIs) such as the World Bank and the Asian Development Bank. Less clear are the mechanisms by which donors exert...

This paper explores how U.S. bilateral economic aid has or has not changed with the advent of the War on Terror. In particular, has the renewed geopolitical role of aid coincided with a reduction of aid to the poorest countries or less weight on need in U.S. aid allocation decisions? We start...

We examine the role of commercial banks in monetary transmission in a factor-augmented vector autoregression (FAVAR). A FAVAR exploits a large number of macroeconomic indicators to identify monetary policy shocks, and we add commonly used lending aggregates and lending data at the bank level....

The emergence of fiat money is studied in an environment in which exchange is organized around trading posts where many producers and shoppers are matched in a dynamic monopolistically competitive framework. Each household consumes a bundle of commodities and has a preference for consumption...