This paper studies how agricultural production responds to the loss of agricultural labor during the process of urbanization and structural transformation. Using household microdata from India and exogenous variation in migration opportunities induced by urban income shocks, we show that...

Credit markets and property rights are fundamental for modern economies, but they also have implications for the commons. Using a dynamic model of competitive resource extraction, we show that improving property right security unambiguously increases conservation incentives, but the effect of...