Working Papers

We invite you to explore the working papers supported directly by CFSP as well as key working papers in the field of financial systems and poverty that were written by Consortium researchers.

Dean Karlan, Ryan Knight, Christopher Udry

We show how financial and managerial constraints impede experimentation, and thus limit learning about the profitability of investments. Imperfect information about one...

Recent Working Papers

Robert M. Townsend, Alexander Karaivanov, Sonia Ruano, Jesus Saurina
Banco de España Working Papers | Working Paper 1003 | 2010

This paper examines whether financial constraints affect investment decisions for older (...

Francisco J. Buera, Yongseok Shin
2010

Why doesn't capital flow into fast-growing countries?  This paper provides a model...

Dean Corbae, Pablo D'Erasmo
2010

We develop a model of banking industry dynamics to study the relation between commercial bank...

Jeremy Greenwood, Juan M. Sanchez, Cheng Wang
FRB St. Louis Working Paper 2010-023B | 2010

How important is financial development for economic development?  A costly state...

Fatih Guvenen, Anthony Smith
NBER Working Paper No. 16327 | 2010

This paper uses the information contained in the joint dynamics of households’ labor...

Greg Kaplan
FRB Minneapolis Working Paper 677 | 2010

This paper uses an estimated structural model to argue that the option to move in and out of...

Mark Gertler, Nobuhiro Kiyotaki
2010

We develop a canonical framework to think about credit market frictions and aggregate economic...

Kenichi Ueda, Stijn Claessens, Yishay Yafeh
IMF Working Paper 10/231 | 2010

Financial frictions have been identified as key factors affecting economic fluctuations and...

Pascaline Dupas, Jonathan Robinson
NBER Working Paper No. 14693 | 2010

To what extent does the lack of access to formal financial services impede business growth in...

Horacio Larreguy
2010

We develop a simple model of informal interpersonal insurance in caste-based networks to...