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.

Recent Working Papers

Esteban Puentes, Claudia Martinez, Jaime Ruiz-Tagle
2013

Using a randomized controlled trial of a large-scale publicly run micro-entrepreneurship...

Benjamin Moll, Robert M. Townsend, and Victor Zhorin
2013
Motivated by evidence from the micro data that the type of financial frictions faced by...
Nicholas Economides, Benjamin Hermalin
2013

The authors consider a heretofore unexplored explanation for why platforms, such as Internet...

Pierre-Andre Chiappori, Krislert Samphantharak, Sam Schulhofer-Wohl, Robert M. Townsend
2013
We use a model of optimal portfolio choice to measure heterogeneity in risk aversion among...
Arun Chandrasekhar, Horacio Larreguy, Emily Breza
2012

In the absence of strong formal institutions, social networks play a significant role in...

Robert M. Townsend, Mauro Alem
2012

The theory of the optimal allocation of risk and some unusual panel data on financial...

Warren Weber
2012

This paper examines two different clearing arrangements for bank liabilities. One was a profit...

Tomoe Moore, Christopher J.Green
2012

We construct data for a flow of funds model and estimate a complete model of disaggregated...

V.V. Chari
2012

Developing an understanding of how financial market disturbances affect the broader economy is...

Monika Piazzesi, Martin Schneider
2012

In the 1970s, U.S. asset markets witnessed (i) a 25% dip in the ratio of aggregate household...