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The assumption of rational choice helps in understanding how people respond to infectious diseases. People maximize their well-being by choosing levels of prevention and therapy subject to the constraints they face. Objectives and constraints are numerous, necessitating tradeoffs. For example,...
Does globalization affect labor market outcomes? Can labor market policies mitigate or offset the effects? Would these policies have important side effects on efficiency? This article addresses these questions through an analytical survey of the literature, including several studies under...
Recent years have seen substantial reductions in trade policy and other barriers inhibiting developing country participation in world trade. Lower barriers have contributed to a dramatic shift in the pattern of developing country trade—away from dependence on commodity exports to much greater...
This article surveys an influential new research program on historical paths of institutional development and their consequences for growth. The research program exploits the experience of European colonialism as a kind of “natural experiment” whose results bear on the way institutions affect...
This article uses finance and agency theory to establish two key propositions about International Monetary Fund (imf) conditionality and country ownership of imf-supported adjustment programs. First, the authors propose that the conditionality attached to these programs is justified. Second, the...
Traditional conditionality in policy-based lending is often criticized as being ineffective, intrusive, and corrosive. Disillusionment has led to proposals to replace ex ante conditionality with ex post conditionality and to focus on ownership, selectivity, and partnerships. This article reviews...
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