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Unlike many Nobel prizewinners, this year's award was not really given for a central theoretical development. All three of the winners have made important theoretical contributions relevant to development economics and that inspired their future work (for example Banerjee on networks or Kremer on technological change and productivity). However, their major ...


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How long can I – coming from country X – live in country Y by spending my last monthly salary converted by nominal exchange rate: 1 as a backpacker or as a convenience tourist? 2 adapting to the other country's standards which may be lower? 3 adapting to higher standards than I am used to? 4 How much does this period deviate from a month? My ...


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This is tricky to answer precisely because governments vary a lot in the services they extent to visitors. There is also variation in the mix of consumption goods across countries as well as their relative prices. You might respond to local conditions by changing your consumption bundle more or less than the average person and that would change the economics ...


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