Replication data for: Risk and Return in Village Economies
Principal Investigator(s): View help for Principal Investigator(s) Krislert Samphantharak; Robert M. Townsend
Version: View help for Version V1
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| Samphantharak-Townsend-AEJMicro-Data | 10/12/2019 11:02:PM | ||
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text/plain | 14.6 KB | 10/12/2019 07:02:PM |
Project Citation:
Samphantharak, Krislert, and Townsend, Robert M. Replication data for: Risk and Return in Village Economies. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114355V1
Project Description
Summary:
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This paper provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an economy characterized by idiosyncratic and aggregate risk and thin formal markets for real and financial assets. We apply our framework to households running business enterprises in Thai villages with extensive networks, taking advantage of panel data: income, assets, consumption, gifts, and loans. We decompose risk and estimate the risk premia faced by households, distinguishing aggregate risk from idiosyncratic, potentially diversifiable risk. This distinction matters for estimating measures of underlying productivity and has important policy implications.
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D22 Firm Behavior: Empirical Analysis
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D81 Criteria for Decision-Making under Risk and Uncertainty
O12 Microeconomic Analyses of Economic Development
O14 Industrialization; Manufacturing and Service Industries; Choice of Technology
O18 Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
D12 Consumer Economics: Empirical Analysis
D22 Firm Behavior: Empirical Analysis
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D81 Criteria for Decision-Making under Risk and Uncertainty
O12 Microeconomic Analyses of Economic Development
O14 Industrialization; Manufacturing and Service Industries; Choice of Technology
O18 Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
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