Measuring the economic impact of a war is a daunting task. Common indicators like casualties, infrastructure damages, and gross domestic product effects provide useful benchmarks, but they fail to capture the complex welfare effects of wars. This paper proposes a new method to estimate the...

To study the causal impact of oil royalties on human capital, we exploit quasi-experimental variation arising from a law in Ecuador that transfers resources to municipalities regardless of their oil-producing status. We find that royalties increase the likelihood of students completing primary...

Access to essential infrastructure services such as water, sanitation, and garbage collection can considerably affect children's environment and may play a significant role in shaping early childhood developmental and health outcomes. Using data from the Multiple Indicator Cluster Surveys (MICS)...

Using an online multi-country video-vignette survey experiment, we measure bias against extractive industries and foreign firms in individuals perceptions and preferences related to industrial projects with potential economic benefits and environmental costs. Individuals face a hypothetical...

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...

This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. Using a two-period overlapping generation model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or...

The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...

2002 Pew Global Attitudes survey shows that workers' support for free trade decreases with age. The relation between age and supporting free trade is a phenomenon previously unexplored by economists. We study distributional effects of trade liberalization, in particular age and gains from free...

Over the course of the recent liquidity crisis, the Federal Reserve made several changes to its primary credit lending facility such as narrowing the spread between the primary credit rate and the target funds rate and increasing the term of the borrowing. In this paper, we use the model...