Fluctuations in aggregate demand can influence the decision to invest in innovation. This paper focuses on this choice when fluctuations are heterogeneous across productive strata of the economy. To guide the empirical analysis, we model firms’ decision to invest in innovation. In our...

Este documento estudia el impacto de un experimento en Macedonia del Norte en el cual individuos en paro de larga duración que participan en un programa de empleo subvencionado son seleccionados de manera aleatoria para participar en una entrevista de trabajo. Los empleadores que contratan a un...

Although microfinance institutions across the world are moving from group lending towards individual lending, this strategic shift is not substantiated by sufficient empirical evidence on the impact of both types of lending on borrowers. We present such evidence from a randomised field...