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David McKenzie's blog

Almost 80 percent of the growth in remittances to developing countries over the past 20 years is an illusion

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Remittances sent by migrant workers to developing countries have soared in the past two decades. According to the World Development Indicators, workers’ remittances to developing countries were just US$47 billion in 1980 (in constant 2011 dollars). After barely rising by 1990 ($49 billion), they doubled by 2000 ($102 billion), and from there, tripled by 2010 ($321 billion).

How stable are time preferences? Mixed evidence from two new studies

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The discount rate used by individuals to trade off utility in the future against utility today is a fundamental parameter of decision theory. It is typically elicited in surveys by asking individuals to make choices between receiving an amount today, and a different amount at some point in the future. There are lots of key design issues involved in doing this (e.g.

Is the Impact Evaluation production function O-ring or a Knowledge Hierarchy?

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The production process for many economics papers requires relatively few inputs: one or two researchers, their computers, a research assistant, and some data someone else has collected. Indeed Bob Hall notes that Robert Solow once remarked that the most powerful tool for research was one economics professor with one research assistant.