Many issues that were traditionally analyzed using the Baumol-Tobin model can also be analyzed, perhaps more easily, using the Lucas (1980) cash-in-advance model where money serves both as a medium of exchange and as a store of value. This is illustrated by three examples (implications) of the Lucas model: (i) the velocity of money is time varying, volatile, and in‡ation-dependent; (ii) transit...

This paper is concerned with the job creation dynamic of development finance institutions’ (DFI) investments and approaches the topic from two perspectives. Firstly, it reviews the key determinants of firm-level employment growth from general economic literature and examines how they explain job creation in DFI investments. Secondly and more interestingly, the effect of DFI funding itself on fi...

Despite the vast body of research on charitable giving and its drivers, no research has investigated the longitudinal dynamics of individual donation decisions. We analyzed unique data with nearly 300,000 real donation decisions made by more than 20,000 individuals for a period of 10 months. Each decision entailed a choice of what to do with money received for completing a survey (on average, €...

While baseline testosterone has recently been implicated in risk-taking in men, less is known about the effects of changing levels of testosterone on financial risk. Here we attempt to influence testosterone in men by having them win or lose money in a chance-based competition against another male opponent. We employ two treatments where we vary the amount of money at stake so that we can direc...

This paper examines the earnings differentials among hospital workers in the public, private nonprofit, and private for-profit sectors. Utilizing data from the 1995 through 2007 Current Population Surveys, unadjusted earnings are highest in the private nonprofit sector and lowest in private for-profit firms. Once measurable characteristics are accounted for, health practitioners in for-profit a...

Abstract This is an ethnography among poor migrants from Kerala, India to the Middle East. study offers insights into how accumulate sacrificial money through sufferings and self-abnegation, earmark it for consumption in Kerala. The hardships endured earn transform a sacred object. phenomena of accumulation, earmarking, meaning making by can be understood concept work. Sacrificial work spatiall...