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Mark Pitt and Shahid Khandker have written a detailed and convincing reply to the concerns of David Roodman and Jonathan Morduch. This is now posted on the Bank's working paper site. In their new paper Pitt and Khandker argue that the methods in the Roodman-Morduch paper are biased against finding impact. Amongst their new findings, they show that an alternative method of calculating the standard errors suggests that the original Pitt and Khandker paper could well have underestimated the impact of women's credit on household consumption. You can find the new Pitt-Khandker paper here.