Policy expectations from biofuels have been a widely contested issue. Lately, the risks and uncertainties associated with the unintended consequences of biofuels in terms of food and land-use changes…

Free trade has led to extreme specialization, e.g., most of the world's supply of APIs for medicine come from China, critical software and microchips come from the US, etc. Therefore, a lockdown in…

Many school children in ethnically diverse countries live in multilingual environments where the medium of instruction in school differs from their mother tongue. We conduct a field experiment in a…

In the context of marine species declines in data-limited regions, local ecological knowledge (LEK) is a valuable source of information on species ecology and historical trends. LEK can also help…

The global output of food staples is far more stable than most individual nations' outputs, but does this lead to consumption risk sharing? This paper applies tools from the risk sharing literature to…

This analysis looks at how Appalachian coal mining responds to restrictions in coal production from the Western US. An unexpected reduction in the ability to move coal from the Powder River Basin (PRB…

We study credit contracts under a life-cycle setting where time-inconsistent agents lack the internal commitment to stick to consumption plans and external commitment to repaying loans. With…

The rich literature on Pay-As-You-Go (PAYG)-type pensions provides a notion that when pension return is dominated by the market return, generally it is impossible to phase pension out without hurting…

We model an economy where present biased preferences affect the bequest leaving decisions. Using Bequest in the Utility (BIU) setup, we show that the optimal inheritance tax rate under present bias…

The previous conclusion that a uniform lump-sum estate tax could implicitly provide annuity income was reached by ignoring the inheritance that agents receive. However, when the agents leave a bequest…