rafmacalaba/datause-encoder-data huggingface dataset:
usually not the focus in the existing literature relying on a linear estimating equation. When the education production function exhibits diminishing returns to financial investment and complementarity between parents’ direct impact and financial investment as proposed by Becker et al. (2015, 2018), the CEF can be concave or convex depending on the strength of complementarity. With quadratic CEF, parental gender bias affects both relative and absolute mobility.

We take advantage of rich household survey data from China and India to test the above ideas. The data sets used (IHDS for India and CFPS for China) do not suffer from sample truncation due to coresidency restrictions common in household surveys in developing countries. Our estimates are thus free of severe truncation bias reported recently by Emran et al. (2018) because of coresidency restrictions. The evidence shows interesting cross-country and rural-urban differences. The CEF is concave in India irrespective of gender and location. In contrast, the CEF is convex for sons, but linear for daughters in urban China. In rural China, the CEF is linear for both sons and daughters. The evidence on functional form suggests that children face diminishing returns India, and girls in rural India face diminishing returns both in financial investment and parental direct inputs to schooling. The convexity observed in urban China for sons supports the complementarity hypothesis of Becker et al. (2018).

Girls face lower relative and absolute mobility in India when the father has low education, but there is gender convergence at the right tail of the parental schooling distribution. The relative magnitudes of the estimated parameters of the investment and mobility equations across gender when combined with the evidence of higher returns to education for girls help us sort out possible explanations for the observed pattern of mobility. The evidence on rural and urban India is consistent with the hypothesis that parents systematically underestimate the academic ability of girls, and girls also face significant bias in school. The same mechanisms can also explain the evidence in urban China, but, in rural China, the evidence indicates constraints in the school as the main mechanism at work and fails to reject the null hypothesis of no parental bias. There is some evidence that pure son preference plays a role in educational persistence in rural India.

33
MODEL OF RELATIONSHIPS TO BE STUDIED (The Relationships which have sold lnes wg be studied In the research project. Variable defiritIons are attached as a supplement) <!-- Start of picture text --> Proximate<br>Determinants<br>| Household(S vual Ur (|<br>|Characteristics<br>NFF tel j I I i t y<br>Breast Feedifg \<br>Fertility (4) | (3) H Recent<br>Intentions Contraceptive Fertility<br>Government<br>Commitment y Method Choice- a<br>Policy<br>Family Planning<br>Resources<br>4<br>Community ()<br>Characteristics<br>pk/w45692<br><!-- End of picture text -->

FIGURE 2
# Adjusting to Trade-Policy Changes in Export Markets: Evidence from U.S. Antidumping Duties on Vietnamese Catfish<sup>_∗_</sup>

Irene Brambilla<sup>_†_</sup> Guido Porto<sup>_‡_</sup> Alessandro Tarozzi<sup>_§_</sup> Yale University Research Group Duke University and NBER The World Bank February 2009

> _∗_ We are especially grateful to Quy-Toan Do for his help, encouragement and comments. Matias Horenstein provided outstanding research assistance. Comments and discussions from C. Bown, M. Busso, M. Genoni, M. Haddad, B. Hoekman, A. Khandelwal, N. Minot, T. Prusa, M. Rama, M. Ravallion, C. Turk, D. Van De Walle, and seminar participants at George Washington University, IABD, Michigan State University, University of Michigan, USITC, and the World Bank are greatly appreciated.

> _†_ Yale University, Dept of Economics, 37 Hillhouse, New Haven CT 06511. email: irene.brambilla@yale.edu

> _‡_ The World Bank, MailStop MC3-303, 1818 H St., Washington DC 20433. email: gporto@worldbank.org

> _§_ Duke University. Dept. of Economics, PO Box 90097, Durham, NC, 27708. email: taroz@econ.duke.edu
35 treatment, but which does not require the same outcome.<sup>122</sup> That the menu offered is the same to participating creditors is normally sufficient. The voting thresholds to approve proposed deals differ between the CAC generations. In Russia’s bonds, the third generation CACs (two of the bonds) require that 75 percent of the aggregated principal in the pool and 66 2/3 percent of the principal of each bond approve the deal. The fourth generation CACs provide two alternative thresholds at the discretion of the debtor: (1) 75 percent of the aggregated principal in the pool or (2) 66 2/3 percent of the aggregated principal and 50 percent of each bond. Whether it would be more convenient for Russia to launch two separate negotiations for bonds containing third and fourth generation CACs is unclear at this time.

But what about the four remaining bonds? These bonds are likely at the top of the list for creditors who may consider a holdout strategy. From the prospectuses, it is only possible to ascertain that two have first generation CACs, which can only be modified with the consent of 75 percent of the principal of the bond in question. The remaining two bonds only state the conditions for calling a bondholders’ meeting and define a quorum, which, confusingly, is achieved with 75 percent of the holders of each bond. The mechanism for “reserved matter modifications” (i.e. restructuring) should appear in the fiscal agency agreement, which is unavailable to the author. However, it is highly unlikely that these clauses are capable of cross-series aggregation since that generation of the clause had not yet appeared.<sup>123</sup> More likely than not, they contain the classic first-generation English-law CAC threshold of 75 percent.<sup>124</sup>

> 122 This equitable treatment is technically embodied by the “uniformly applicable offer” requirement and is not without ambiguity. _See_ Anna Gelpern, _<u>Imagine Riding the Ceteris Pari-bus into the Sunset ... in Argentina</u>_ , Credit Slips (blog post, Nov. 5 2019).

> 123 _See_ Lee Buchheit and Mitu Gulati, _The Argentine collective action clause controversy_ , Capital Markets Law Journal, Volume 15, Issue 4, October 2020, Pages 464–473 (SSRN version at 3).

> 124 _Id_ . at 2.
quality were among the most effective WASH interventions (Dangour et al 2013). Though the causes of undernutrition are multifaceted and include factors such as caretaking practices, food security, access to health care, and various social determinants, the contribution of specific WASH conditions to rates of childhood undernutrition warrants further study.

Using household survey data collected by the United Nations Children’s Fund (UNICEF), this analysis attempts to observe the effect of various levels of E. coli contamination of drinking water on the prevalence of stunting in children under 5. Such an effect would be consistent with the biological plausibility that exposure to fecal contaminants can interrupt critical growth periods of children through the onset of enteric infections. Further, the effect can be attributed to quantifiable levels of E. coli bacteria that children could arguably have regular exposure to through drinking water.

We present results from our econometric analysis, where we regress levels of E. coli contamination of drinking water at the household source and consumption on the probability of being stunted, as measured by height-for-age z-scores that are two standard deviations below the World Health Organization (WHO) reference population. After controlling for a range of demographic, social, and economic characteristics of households, the results from the probit regression models suggest that E. coli contamination at both the source and consumption point are significantly and positively associated with stunting status, where the likelihood of stunting is higher for children exposed to increasing risk levels of E. coli contamination.

The results indicate a 6 percentage point increase in the prevalence of stunting in children (n=817) who are exposed to highly contaminated (>100 cfu in 100ml) drinking water at household point compared to those exposed to low-to-medium contamination (1-100 cfu in 100ml). When contamination is measured at the source level (n=1,293), the association is greater with a 9 percentage point increase in the likelihood of stunting when exposed to a high level of contamination. The results leave important implications on the necessity of addressing water quality in WASH interventions as consistent with the new Sustainable Development Goal (SDG) targets as well as future research questions on the synergies between WASH and nutrition.

The paper continues in four sections. Section 2 provides a background on environmental fecal contamination in less developed countries and summarizes evidence on the links between WASH interventions and nutrition outcomes. Next, section 3 describes the data used for the analysis and the 3
Becker, Hubbard and Murphy (2010 _b_ ), who suggest that the lower variance of non-cognitive skills among females can generate a higher elasticity of enrollment to returns to schooling.

We also model the mean dynamics hypothesis within our framework. Contrary to the tail hypothesis, the predictions of the mean hypothesis depend directly on the dynamics of gender-specific means, and gender equality in educational attainment is only achieved if gender-specific means are the same. The mean dynamics hypothesis can be modeled in two alternative ways within our framework. It first can be formalized through the mean benefit hypothesis (MBH), which posits that the net benefits of schooling for females have increased more rapidly over time than for males (Goldin, Katz and Kuziemko 2006 and Chiappori, Iyigun and Weiss 2009). Second, it can be modeled through the mean performance hypothesis (MPH), which claims that the mean performance of females in achievement tests has increased over time relative to males’ (Cho 2007). We show that both hypotheses are algebraically similar in our framework, and can produce a reversal of the gender gap in educational attainment.

A final contribution of the paper is empirical. Building on our conceptual framework, we are able to estimate the respective contributions of the two hypotheses to the gender gap reversal. This is, to the best of our knowledge, the first paper that formally quantifies the contributions of alternative hypotheses within a unified framework. Using our model, we show that each of the mean and tail dynamics hypothesis can be expressed by a reduced-form equation and summarized by two key parameters. We then fit each hypothesis using harmonized time-series data on educational attainment by gender from 1950 to 2010 in a large sample of countries. We estimate each hypothesis’ parameters derived from our theoretical framework first separately, and then jointly.

tertiary enrollment in the full sample. Accounting for both parameters in the estimation strongly increases predictive power, as opposed to specifications with only one of the two hypotheses parameters. For secondary school completion, however, the predictive power of the mean hypothesis is lower than that of the tail hypothesis in the full sample. Once we split our sample between developing and high-income countries, we find that the respective explanatory power of the two hypotheses varies in the two groups. While the tail hypothesis predominates in the developing 4
average, while unemployment rates were much higher. Except for Spain and Italy, most countries in Western Europe and North America had higher employment and lower unemployment rates than Latvia.

**Figure 6  Activity and Unemployment Rates a) EU Accession and Candidate Countries (2002), age 15+**

<!-- Start of picture text --> 22<br>PL<br>20<br>SK<br>BG<br>18<br>16<br>LT<br>14<br>LV<br>12<br>EE Employment rate<br>10<br>59-60<br>RO<br>8 CZ 53-56<br>SI<br>HU<br>6 50-52<br>4 CY 46-49<br>2 40-45<br>48 50 52 54 56 58 60 62 64<br>Activity rate<br>Unemployment rate<br><!-- End of picture text -->

**b) Baltic Countries, EU-15 Average, and Selected OECD Countries (2002), age 15-64**

<!-- Start of picture text --> 16<br>LT<br>14<br>LV<br>12 ESP<br>EE<br>10<br>ITA FRA FIN<br>DEU<br>EU Employment, age15-64<br>8 CAN<br>BEL 73-78<br>6 USA 69-72<br>SWE<br>DNK<br>IRL 64-66<br>NOR<br>4<br>NLD 60-62<br>2 56-59<br>60 70 80 90<br>Activity rate, age 15-64<br>Unemployment rate, age 15-64<br><!-- End of picture text --> _Note:_ UK and Portugal have virtually identical indicators as Sweden and US respectively. _Source_ : Canstat 2003/2, national statistical offices of Estonia, Latvia, and Lithuania, OECD, and Calculations.

9
## **Table 8. Optimal simple rules when stocks are managed by a public agency and private storage is prohibited**

||||**_R‐ν_**<br>|||
|---|---|---|---|---|---|
|**Variables**|**0**|**3**|**6**|**9**|**12**|
|||Public stor<br>|age cost of US$|87per ton<br>||
|Insulationparameter���|‐0.17|‐0.40|‐0.48|‐0.54|‐0.57|
|Storage subsidy ���|0.60|0.62|0.69|0.77|0.77|
|Indiaprice||||||
|Mean(Rs/t)|9,730|9,633|9,601|9,581|9,573|
|CV(%)|13.03|11.42|11.00|10.69|10.62|
|RoWprice||||||
|Mean(US$/t)|201.0|201.6|201.8|201.9|202.0|
|CV(%)|21.43|22.41|22.78|23.02|23.15|
|Mean India stock(million tons)|0.01|0.01|0.02|0.06|0.06|
|||Public stor<br>|age cost of US$|40per ton<br>||
|Insulationparameter���|‐0.17|‐0.40|‐0.49|‐0.54|‐0.56|
|Storage subsidy ���|0.14|0.48|0.83|0.93|1.00|
|Indiaprice||||||
|Mean(Rs/t)|9,730|9,630|9,585|9,563|9,554|
|CV(%)|13.03|11.18|9.71|8.89|8.22|
|RoWprice||||||
|Mean(US$/t)|201.0|201.6|201.7|201.8|201.9|
|CV(%)|21.43|22.41|22.62|22.78|22.84|
|Mean India stock(million tons)|0.01|0.06|0.42|0.69|0.99|

# **7 Conclusions**

The analysis presented here has relied on a rational expectations storage-trade model to represent current policies for managing wheat price volatility in India and propose alternative stabilization policies. Representing current policies is a challenge, because they appear to be highly discretionary. To capture their essence, they have been represented as simple rules, defined as functions of world and domestic conditions. The alternative stabilization policies are derived from the maximization of a social welfare function that includes a motivation for price stability. The treatment of alternative policies contains two innovations for developing price stabilization policies: It designs optimal price stabilization policies for a large-country case, and it considers simple rules for stabilization and demonstrates how closely their effects can approximate those of a fully optimal policy.

India’s policies have been very effective in stabilizing the domestic wheat price, but their high costs raise concerns about whether the costs are exceeding the benefits. The current policy is costly for two main reasons: Trade and storage policy are not coordinated, and the storage policy appears to follow a buy-and-hold strategy. Large stock levels are held for long periods, but stock releases 34
information is compiled from detailed survey reports prepared for the Asian Development Bank. The surveys use similar methodology and were conducted by teams of legal experts in each country and reviewed by a regional team to ensure the comparability of results (Asian Development Bank, 1999).

Creditor rights are strongest in countries with Anglo-Saxon and Germnanic codes and weakest in countries with French codes. For example, creditors in the Philippines, where the code is of French origin, are barred by the "automatic stay" on assets from taking any collection action against the debtor's assets. In addition, a creditor's security interest does not guarantee priority status. Furthermore, the statutory bankruptcy scheme prohibits creditors from ousting management during reorganization. In contrast, creditors in Malaysia, where the code is of Anglo-Saxon origin, have strong creditor rights.

We use the information presented in Table 3 to construct quantitative indices of creditor protection and the efficacy of the judicial system. Our results are shown in Table 4, where a higher index indicates better creditor rights and judicial efficiency. We find that Indonesia and the Philippines have the weakest creditor protection, while Hong Kong, Singapore, and Taiwan have the strongest creditor protection. In addition, we find that Indonesia, the Philippines, and Taiwan have the weakest judicial system, while Korea and Singapore have the strongest judicial systems.

To construct our index of creditor rights, we use the methodology in La Porta et al. (1997). This index is an average of four indicators of creditor strengths reported in columns 3 to 6 of Table 3. First, the timeliness of rendering a judgement whether to liquidate or restructure once a bankruptcy petition has been filed. For example, the bankruptcy codes in Indonesia, the Philippines, and Thailand do not have a specified 11
from Eurostat. Appendix A provides more detailed description of the content of the video, and example screenshots, as well as more details on the other interventions.

The theory underlying this type of intervention is that potential migrants underestimate the risks of migrating the backway for at least two reasons. The first is that they are likely to receive a selective picture of the journey, with news of failures and other stigmatized events becoming less likely to be shared with others than successes. Second, as discussed above, the context of our intervention is one where there were rapid changes in policies that had increased the risks of the journey. While some substantial policy changes (like a sharp increase in deportation risk) may quickly be transmitted to potential migrants, other migration journey events or outcomes may be less frequent and more stigmatized and hence less well-known (as attested by our own survey knowledge questions). This context will create knowledge gaps and an information set including outdated facts. This intervention may then provide new information, as well as potentially increase the salience of these risks.

**_Treatment 2 (information and Senegal alternative)_** was shown the same videos as the information and deterrence group, given additional information about migration to Dakar, Senegal, and offered financing and support to pay the cost of travel to Dakar. The information about Senegal was also conveyed through a video documentary towards the end of the baseline, including testimonies of Gambian migrants residing in Dakar. These migrants narrate their migration experience to Dakar, conveying information on the cost of migrating, type of job opportunities and earnings, and general advice to prospective Gambian migrants. Moreover, respondents in these settlements were provided with the opportunity to migrate to Dakar for free. They were asked if they were interested in migrating to Dakar for the purpose of looking for jobs. Respondents in this group were then given (i) a labeled cash transfer of 1,200 GMD (about 20 euros) that could be used to pay for the cost of a bus journey to Dakar<sup>17</sup> ; (ii) information on the bus routes and timetables for traveling to Dakar; (iii) contact information for a representative of The Gambian migrant association in Dakar who could be asked any question about traveling to Dakar and help connect them to opportunities upon arrival; and (iv) a Dakar voucher entitling the respondent to an additional 10,000 CFA (about

> 17 Our initial plan was to provide bus vouchers and a dedicated bus service to transport respondents to Dakar. However, this had to be amended because of the difficulties in coordinating transport across respondents, and to bus maintenance problems with our selected bus company. The provision of labeled cash corresponds to the approach used by Bryan et al. (2014) in Bangladesh.

16
19 degree of ascendancy over industrial enterprises, which extended far beyond the sphere of financial control into that of entrepreneurial and managerial decisions. (pp. 1116) 8. See J. Cable, "Capital Market Information and Industrial Performance:<sup>The</sup> Role of West German Banks," The Economic Journal, vol. 95, no. 377 (March 1985). To quote: As is well known, German companies make little use of their relatively undeveloped external capital market, and depend heavily on the banking system for their external finance. Moreover, the banks not only supply or arrange access to investment funds, but are also extensively represented on the supervisory boards of companies, and in control of very large blocks of equity voting rights. The system of industrial financing which results can be viewed as one of "quasi-internal capital markets," with potentially important informational and transaction-costs implications . . . there is a significant positive relationship between the degree of bank involvement in lending industrial companies and their financial performance. (pp. 119 and 130) 9. For this and other financial innovations -hat emerged after 1960,<sup>see Janet</sup> Kelly, Bankers and Borders (Cambridge, Mass.: Ballinger Publishing Co., 1977), chap. 6. The pure security approach is described as "backward looking," while the cash flow approach as "forward looking." To quote: "While the British banks would make advances to RollsRoyce because of the extensive assets of the company, American banks would assess the company's cash flow to see if the company would be able to service the loan over the necessary period.' (p. 131) 10. Such a link is illustrated by the experience of rural banks and private development banks in the Philippines. See Katrine Andersor. Saito and Dan P. Villanueva, Transaction Costs of Credit to the Small-Scale Sector in<sup>the</sup> Philinpines, Domestic Finance Studies 53 (Washington, D. C.: World Bank, December 1978).

11. See Joseph A. Schumpeter, Business Cycles (New York: McGraw Hill Co., 1939), vol. 1, pp. 93-97. Schumpeter emphasizes that innovation is generally introduced by the rise to leadership of new men, who set up a new firm<sup>and</sup> with a new plant.

- 12.See John Hicks, CaRital and Growth (Oxford: Clarendon Press, 1965),<sup>p.</sup> 292.

- 13.See R. W. Goldsmith, "Some Reflections on the Past, Present and Future<sup>of</sup> Financial Institutions," mimeo (1974). To quote: