Over the coming decade, the power sector is expected to invest ~7.2 trillion USD in power plants and grids globally, much of it into CO2-emitting coal and gas plants. These assets typically have a long lifetime and commit large amounts of (future) CO2 emissions. Here, we analyze the historic...

Tailoring instruction to each student's needs can produce significant learning gains. However, few programs have successfully implemented this approach. In this paper, we present the results of a randomized evaluation of a program that uses an inquiry with an individualized scaffolding approach...

We analyze the effects on teacher retention and between school mobility of a program that rewards excellence in pedagogical practice in Chile. Teachers apply voluntarily for the award and those who succeed on a set of assessments receive a 6 percent annual wage increase for up to 10 years. We...

Conditional Cash Transfer (CCT) programs are important anti-poverty programs in Latin America and the Caribbean. There is little evidence, however, of the effectiveness of ongoing CCT programs several years after they have begun. Such evidence is particularly relevant for policymakers because...

Despite the widespread debate about crime in Brazil and the alarming increase in homicides in recent years, few studies have analyzed or exposed evidence of the impact of public security spending on deterring violence in the country. This may be due to issues of endogeneity when estimating the...

Violations of Tinbergen's Rule and strategic interaction undermine monetary and financial policies significantly in a New Keynesian model with the Bernanke-Gertler accelerator. Welfare costs of risk shocks are large because of efficiency losses and income effects of costly monitoring, but they...

We use a novel dataset that merges goods-level prices underlying the CPI in Mexico with the balance sheet information of Mexican publicly listed firms and study the connection between firms' financing structure and price dynamics in an emerging economy. First, we find that larger firms (in terms...

Recent studies document that, in many cases, the schools that parents prefer over others do not improve student test scores. This could be because (a) parents cannot discern schools causal impacts, and/or (b) parents value schools that improve outcomes not well-measured by test scores. To shed...

The link between innovation and employment is at the center of the policy debate. This paper sheds light on how labor market regulations affect the relationship between different types of innovation and employment in Latin America. We estimate the model developed by Harrison et al. (2014) using...

The literature on development effectiveness has traditionally focused on the ex-post analysis of projects. While this is the appropriate method of measuring benefits, a previous step must be taken as a forerunner to good ex-post evaluation: the measurement of the efficiency in the execution of...