We provide new micro evidence on the discussion about the relationship between financial development and welfare. Relying on the concept of local financial development our analysis focuses on three dimensions of household welfare: vulnerability to poverty, investment, and consumption smoothing....

On November 08, 2016, India took a decisive step towards going “cashless” by suddenly announcing withdrawal of its existing currency notes of two highest denominations, namely, the Rs. 500/= and the Rs. 1000/=. The move, announced with a suddenness that took the entire nation by surprise,...

This paper studies the impact of informality on the long-run relationship between inflation and unemployment in developing economies. I present a dynamic general equilibrium model with informality in both labor and goods markets and where money and credit coexist. An increase in inflation...

The financing of agricultural producers is one of the most acute problems along the entire scope of economic reforms in Kazakhstan. The issue is: What kind of financial sources could maintain the development of agricultural production? Internal sources such as profit, depreciation capital, and...

We provide new micro evidence on the discussion about the relationship between financial development and welfare. Relying on the concept of local financial development our analysis focuses on three dimensions of household welfare: vulnerability to poverty, investment, and consumption smoothing....

This paper examines the contribution of recently introduced village funds in rural Thailand, one of the largest microfinance programs ever implemented. We use a cross-sectional approach examining village funds in relation to competing financial institutions. We find, first, that village funds...

The ex ante theory of collateral states that better informed lenders, such as informal lenders, rely less on collateral. We test this by contrasting the use of collateral between formal and informal lenders in the same market. Indeed, formal lenders rely more often on collateral, controlling for...

I study the effect of refugees' protection status on labor market outcomes focusing on a recent cohort of Syrian and Iraqi refugees entering Germany between 2013 and 2016. My empirical analysis exploits a sudden and unpredictable change in the assessment of the Federal Agency responsible for...

In modern societies today complete legal descriptions of criminal offenses, related to the illegal audit of public revenues usually appear as tax evasion, customs fraud and smuggling. It will be the crime of smuggling phenomenon, as one of the forms of illegal evasion of public revenue,...