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Papers | CFSP | Consortium on Financial Systems and Poverty
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Papers

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

A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative
Joseph Kaboski, Robert M. Townsend

Winner, 2012 Frisch Medal in Econometrics. This paper uses a structural model to understand, predict, and evaluate the impact of...

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Recent Papers

Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes
Robert M. Townsend, Alexander Karaivanov
Econometrica | Forthcoming | 2014

We formulate and solve a range of dynamic models of information-constrained credit that allow...

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Repossession and the Democratization of Credit
Juliano Assunção, Efraim Benmelech, Fernando S. S. Silva
The Review of Financial Studies | Forthcoming | 2014

We exploit a 2004 credit reform in Brazil that simplified the sale of repossessed cars used as...

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The Great Equalizer: Health Care Access and Infant Mortality in Thailand
Robert M. Townsend, Jonathan Gruber, Nathaniel Hendren
American Economic Journal: Applied Economics | 6 | 1 | 91-107 | 2014

This paper analyzes Thailand’s 2001 healthcare reform, “30 Baht”. The...

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Trade Through Endogenous Intermediaries
Weerachart T. Kilenthong, Cheng-Zhong Qin
Journal of Mathematical Economics | Forthcoming | 2014
We propose an intermediation core for an economy that is explicitly speci es in how traders...
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Macro-Perspective on Asset Grants Programs: Occupational and Wealth Mobility
Francisco J. Buera, Joseph Kaboski, Yongseok Shin
American Economic Review: Papers and Proceedings | Forthcoming | 2014
Building on Buera and Shin (2013) and Buera, Kaboski and Shin (2011), we use a quantitative...
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Barriers to Household Risk Management: Evidence from India
Shawn Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend, James Vickery
American Economic Journal: Applied Economics | 5 | 1 | 140-35 | 2013

Financial engineering offers the potential to significantly reduce consumption fluctuations...

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Heterogeneity and Risk-Sharing in Village Economies
Pierre-Andre Chiappori, Krislert Samphantharak, Sam Schulhofer-Wohl, Robert M. Townsend
Quantitative Economics | Forthcoming | 2013

We show how to use panel data on household consumption to directly estimate households'...

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Eliminating Entry Barriers for the Provision of Banking Services: 'Banking Correspondents' in Brazil
Juliano Assunção
Journal of Banking and Finance | 37 | 8 | 2806-2811 | 2013

This paper shows that the contractual arrangement of `banking correspondents' has...

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Transaction Networks: Evidence from Mobile Money in Kenya
Tavneet Suri, William Jack, Adam Ray
American Economic Review | 103 | 3 | 356-361 | 2013

Mobile money allows households in Kenya to spread risk more efficiently. In this paper we show...

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Risk Sharing and Transactions Costs: Evidence from Kenya’'s Mobile Money Revolution
Tavneet Suri, William Jack
American Economic Review | Forthcoming | 2013

We explore the impact of reduced transaction costs on risk sharing by estimating the effect of...

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