The paper studies a credit market model with endogenous credit cost and debt constraints in which multiple candidates for steady state equilibria arise. We use dynamic programming (DP) with exible grid size to locate thresholds that separate different domains of attraction. More specifically, we...

We discuss two optimization problems from economics. The first is a model of optimal investment and the second is a model of resource management. In both cases the time horizon is infinite and the optimal control variables are continuous. Typically, in these optimal control problems multiple...

This policy note tries to understand the slow job recovery in the United States as the economy exists a recession. We show that the time-varying Okun coefficient has declined since the early 1990s, thus being consistent with the observation of jobless growth. This finding contrasts with other...

Migration continues to be a very important income diversification strategy, especially for poor populations in developing countries. However, while there has been much analysis on the economic consequences of migration for migrants and the receiving regions, whether internal migration improves...

We investigate the geographical and socioeconomic determinants of childhood undernutrition in Malawi, Tanzania and Zambia, three neighbouring countries in southern Africa, using the 1992 Demographic and Health Surveys. In particular, we estimate models of undernutrition jointly for the three...

Most existing empirical papers concerned about multidimensional poverty use the household as the unit of analysis, so that the multidimensional poverty status of the household is equated with the multidimensional poverty status of all its members. This assumption ignores intra-household...

Most existing multidimensional poverty measures use the household as the unit of analysis so that the multidimensional poverty condition of the household is equated with the multidimensional poverty condition of all its members. For this reason, household-based poverty measures ignore the...

We investigate the geographical and socioeconomic determinants of childhood undernutrition in Malawi, Tanzania and Zambia, three neighbouring countries in southern Africa, using the 1992 Demographic and Health Surveys. In particular, we estimate models of undernutrition jointly for the three...