Cross-country data on energy consumption, GDP and vulnerability are used to measure percentage changes in vulnerability associated with percentage changes in per capita GDP and per capita energy consumption. Energy consumption, through its nonlinear effects on per capita income, have the effect of reducing a country’s overall vulnerability to climate change by a greater amount at moderate incom...

This paper develops an asymmetric information model that provides an economic rational for co-signing. It is shown that banks can solve adverse selection problems by offering a co-signing contract that induces a risky and a safe firm to group together. The equilibrium co-signing debt contract strictly Pareto dominates an equilibrium without a co-signer if the latter entails rationing. The debt ...

In decision-making involving multiple criteria or attributes, the attributes are often divided into core and non-core attributes. A dominance principle is formulated in terms of core attributes, and this principle is applied whenever it is applicable. If, however, the dominance principle defined in terms of core attributes is not applicable, then non-core attributes are consulted in comparing o...

ABSTRACT This paper examines the prevalence and benefits of upward social mobility in early accountancy profession by analyzing lifespan chartered accountants admitted to membership Scotland between 1853 1940. We find that 76 percent our sample experienced mobility, a greater percentage than found previous studies. The an average life expectancy premium approximately three years over general po...

BACKGROUND Macrophage migration inhibitory factor (MIF) is released into the intraluminal fluid during bladder inflammation in the rat complexed to alpha1-inhibitor-3 (A1-I3; a rodent proteinase inhibitor in the alpha-macroglobulin family). The location of A1-I3 in the bladder had not been investigated. Therefore, we examined the location of A1-I3 and MIF/A1-I3 complexes in the bladder and chan...

We use latent class analysis to categorize development experiences. This technique allows us to consider a broad range of country characteristics including per capita income growth, health, inequality, environmental performance, and life satisfaction. We show that each of these indicators is important in explaining the classifications based on the quality of growth. We then predict membership i...

In this paper, we examine the progressivity of social sector expenditures in eight sub-Saharan African countries. We employ dominance tests, complemented by extended Gini/concentration coefficients, to determine whether health and education expenditures redistribute resources to the poor. We find that social services are poorly targeted. Among the services examined, primary education tends to b...

The Nobel Prize committee awarded the 2006 Nobel Peace Prize to Muhammad Yunus and the Grameen Bank “for their efforts to create economic and social development from below.” The microfinance revolution has come a long way since Yunus first provided financing to the poor in Bangladesh. The committee has recognized microfinance as “an important liberating force” and an “ever more important instru...

This study uses " Multiple Indicators – Multiple Causes" (MIMIC) approach to model the causal relations between main variables, which determine the underground economy in Iran. we Basically, it examines the relationship between underground and official GDP in Iran, using annual time-series data for Iran during 1965 – 2005. Accordingly, it is found that the estimated size of the underground ...