The Great East Japan Earthquake (GEJE) occurred against the backdrop of a struggling economy and public finance system under stress, implying an exceptional fiscal cost and imposing a fiscal management challenge to the Government of Japan (GoJ). In response, the government committed to a...

Working conditions in many large factories in low income countries are difficult, and many workers are internal migrants from rural areas. We examine the relationship between workers’ migration status and their labor market outcomes, using a household survey of garment workers in Bangladesh....

Actual inheritances are an hybrid of canonical types of bequests and in particular of accidental bequests and altruistic bequests. In this paper, bequeathed estate consists of two components: an amount intended by altruistic parents and an amount which results from the premature death of...

This paper examines regional population distribution when there is an interregional transfer policy without commitment. We introduce explicitly the following time structure of actions. Individuals make decisions on locational choices freely ex ante, but are immobile ex post. The interregional...

Entrepreneurs starting new firms face two sorts of asymmetric information problems. Information about the quality of new investments may be private, leading to adverse selection in credit markets. And, entrepreneurs may not observe the quality of workers applying for jobs, resulting in adverse...

Politicians typically do not know what policies are best for achieving their broad objectives, so rely on bureaucrats for advice. Bureaucrats are better informed, so can manipulate outcomes by proposing policies that suit their interests. We capture this conflict of interests using a model of...