We study the economic impact of schistosomiasis, a parasitic disease with a complex transmission cycle which is endemic in many developing countries, by means of its effect on agricultural production. We create a novel dataset that combines high-resolution disease prevalence maps with detailed agricultural and household surveys. We find a large, negative and nonlinear causal effect of the disease on yields. Our empirical results provide further proof of the negative feedback between disease dynamics and water resources development, and are consistent with schistosomiasis constituting a poverty-reinforcing productivity shock.
Can one hear the size of a target zone? Yes, if the fundamental process isn't too destabilized by the underlying risk.
We extend the celebrated Rothschild and Stiglitz (1970) definition of Mean-Preserving Spreads to a dynamic framework. We adapt the original integral conditions to transition probability densities, and give sufficient conditions for their …
A model of firm investment under uncertainty and partial irreversibility in which uncertainty is represented by a jump diffusion.