This paper reviews the large and growing literature which tests PPP and other models of the long-run real exchange rate. We distinguish three different stages of PPP testing and focus on what has been learned from each. The most important overall lesson has been that the real exchange rate...

Abstract This paper investigates the effect of bank lending frictions on employment outcomes. I construct a new dataset that combines information on banking relationships and employment at two thousand nonfinancial firms during the 2008-09 crisis. The paper first verifies empirically the...

OBJECTIVES: The objectives of this study were to estimate the accuracy of using mid-upper-arm circumference (MUAC) measurements to diagnose severe wasting by comparing the new standards from the World Health Organization (WHO) with those from the US National Center for Health Statistics (NCHS)...

This paper studies the Japanese credit scoring market using data on 2,000 small and medium-sized enterprises and a small business credit scoring (SBCS) model widely used in the market. After constructing a model for determining a bank's profit maximization, some simulation exercises are...

In this paper, a general framework is proposed for the use of (quasi-) experimental data when choosing policies such as tax rates or the level of inputs in a production process. The data are used to update expectations about social welfare as a function of policy, and the policy is chosen to...