This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defence mechanism against monetary instability. When firms react to tighter credit...

We estimate the effects of access to student loans on university students' educational attainment and labor market returns in New Zealand. We exploit the introduction of a policy mandating a minimum pass rate of 50% for student loan renewals using a fuzzy regression discontinuity design and...