This book examines poverty as a structural problem caused by the way economic systems operate. It poses a simple question: Why do poor people earn less? Case studies in Bolivia, Brazil, Chile, Colombia, Costa Rica and Peru find the poor caught in a vicious circle. They lack sufficient access to...

This book breaks away from the exclusively macroeconomic focus of development studies to bring the spotlight to the place where decisions are made: households. Complementing this microeconomic view with an aggregate approach, this volume uncovers clues to declining fertility, skyrocketing female...

This book breaks away from the exclusively macroeconomic focus of development studies to bring the spotlight to the place where decisions are made: households. Complementing this microeconomic view with an aggregate approach, this volume uncovers clues to declining fertility, skyrocketing female...

This book examines poverty as a structural problem caused by the way economic systems operate. It poses a simple question: Why do poor people earn less? Case studies in Bolivia, Brazil, Chile, Colombia, Costa Rica and Peru find the poor caught in a vicious circle. They lack sufficient access to...

An examination of how intergenerational altruism and borrowing constraints shape the interest rate, savings, and welfare response to funded and unfunded Social Security programs.

An analysis of the interest rate and savings effects of fiscal policy in an overlapping generations framework, discussing the circumstances under which capital's steady-state marginal product varies.

Previous empirical literature has found a sharp decline in consumption during the first years of retirement implying that individuals do not save enough for their retirement. This phenomenon has been called the retirement consumption puzzle. In contrast to some of the previous studies, the...