Walter Bagehot's putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the lender of last resort for close to 100 years, while simultaneously providing...

This paper discusses social protection initiatives in the context of developing countries and explores the opportunities they present for promoting a gender-equality agenda and women's empowerment. The paper begins with a brief introduction on the emergence of social protection (SP) and how it...

This paper considers public employment guarantee programs in the context of South Africa as a means to address the nexus of poverty, unemployment, and unpaid work burdens--all factors exacerbated by HIV/AIDS. It further discusses the need for genderinformed public job creation in areas that...

There is now widespread recognition that in most countries, private-sector investment has not been able to absorb surplus labor. This is all the more the case for poor unskilled people. Public works programs and employment guarantee schemes in South Africa, India, and other countries provide...

In order to provide a coherent perspective of gender differences in the world of work, the many intersections of paid and unpaid work must be brought to light. It is well documented that gender-based wage differentials and occupational segregation continue to characterize the division of labor...

The centrality of the state in promoting gender equality is generally acknowledged, but a perplexing and complex issue confronts us: should the state treat men and women in identical ways, or should it legislate and enforce policies that are aware of gender differences? In other words, should...

Conventional exchange rate models are based on the fundamental hypothesis that, in the long run, real exchange rates will move in such a way as to make countries equally competitive. Thus they assume that, in the long run, trade between countries will be roughly balanced. The difficulty in...

This study is concerned with the measurement of poverty in the context of developing countries. We argue that poverty rankings must take into account time use dimensions of paid and unpaid work jointly. Reviewing the current state of the literature on this topic, our methodology introduces a...

Gender differences have long been documented in earnings, employment opportunities, and time spent within the unpaid care economy. This paper joins the recent efforts in the economics literature on gender differences in asset ownership. Specifically, it investigates whether a gender-specific...

Social protection systems comprise public policies designed to prevent or alleviate economic insecurity and poverty. Throughout the developing world, social protection strategies and the dialogue surrounding them have recently been undergoing an important evolution. In this policy brief, Senior...