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Existing empirical studies are typically unable to sort out the direction of causality between poverty and violent crime in less developed countries. This study uses local rainfall variation – which is plausibly exogenous and closely related to income – to estimate the impact of negative income shocks on murder in 67 Tanzanian villages across eleven years.(More)
We present novel empirical evidence that conflicts of interest between creditors and their borrowers have a significant impact on firm investment policy. We examine a large sample of private credit agreements between banks and public firms and find that 32% of the agreements contain an explicit restriction on the firm's capital expenditures. Creditors are(More)
Financial integration in Europe should affect the competition between markets and intermediaries and generate a convergence of both interest rates and margins among the different countries. This paper analyses the evolution of the convergence in interest rates and the level of competition and its inequalities among the European banking systems for the(More)
provided very able research assistance. The views expressed here are those of the authors and not necessarily of the Inter-American Development Bank or the Federal Reserve Bank of Philadelphia. Abstract This paper presents a conceptual framework for explaining credit union (CU) loan delinquency and profitability in developing countries, together with(More)
We evaluate multiple variants of a commonly used intervention to boost education in developing countries – the conditional cash transfer (CCT) – with a student level randomization that allows us to generate intra-family and peer-network variation. We test three treatments: a basic CCT treatment based on school attendance, a savings treatment that postpones(More)
BACKGROUND Accurate classification of multiple sclerosis (MS) lesions in the brain cortex may be important in understanding their impact on cognitive impairment (CI). Improved accuracy in identification/classification of cortical lesions was demonstrated in a study combining two magnetic resonance imaging (MRI) sequences: double inversion recovery (DIR) and(More)
UK). Virus antigens were detected in feather epidermal cells from days 3 through 6 pi, and in a few stromal cells in the feather pulp on days 3 and 4 pi (online Appendix Figure, panel C). Our results indicate that larger amounts of viruses can be isolated for a longer time from feathers than from swabs. Therefore, feathers can be considered useful samples(More)
—Sensorless drive control has been widely studied in recent years due to the numerous advantages regarding potential failures of position sensors, especially in applications such as automotive or aerospace. Among vector-control drives, indirect rotor-flux-oriented control (IRFOC) type is one of the most popular and tested options. However, it is still a(More)