Immigrants are typically found to have less wealth and hold it in different forms than the native born. These differences may affect both the economic assimilation of immigrants and overall portfolio allocation when immigrants are a large share of the population, as in New Zealand. In this...

Small firms are an important source of income for the poor in developing countries, and the target of many interventions designed to help them grow. But there is no systematic information on the failure or death of such firms. The paper puts together 16 panel surveys from 12 different developing...

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994 - 1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The...

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994-1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The price...