Financial Structure and Economic Welfare: Applied General Equilibrium Development Economics

This review provides a common framework for researchers thinking about the next generation of micro-founded macro models of growth, inequality, and financial deepening, as well as direction for policy makers targeting microfinance programs to alleviate poverty. Topics include treatment of financial structure general equilibrium models: testing for as-if-complete markets or other financial underpinnings; examining dual-sector models with both a perfectly intermediated sector and a sector in financial autarky, as well as a second generation of these models that embeds information problems and other obstacles to trade; designing surveys to capture measures of income, investment/savings, and flow of funds; and aggregating individuals and households to the level of network, village, or national economy. The review concludes with new directions that overcome conceptual and computational limitations.National Science Foundation (U.S.)National Institutes of Health (U.S.)Templeton FoundationBill & Melinda Gates Foundatio

Field, capital and the policing habitus: nderstanding Bourdieu through The NYPD’s post-9/11 counterterrorism practices

This article extends existing Bourdieusian theory in criminology and security literature through examining the practices of the New York City Police Department in the post-9/11 counterterrorism field. This article makes several original contributions. First, it explores the resilient nature of the policing habitus, extending Bourdieusian criminological findings that habitus are entrenched and difficult to change. Second, this article examines the way the resilient habitus drives subordinate factions to displace dominant factions in a field’s established social hierarchy through boundary-pushing practices, a concept previously unexamined in Bourdieusian criminology. Drawing on original documentary analysis, this article uses the illustrative example of the NYPD’s post-9/11 counterterrorism practices, exploring how it sought to displace the existing social structure by using its aggressive policing habitus and an infusion of ‘War on Terror’ capital to challenge the dominant position of the FBI in the post-9/11 counterterrorism field. The NYPD’s habitus driven counterterrorism practices were novel and unprecedented, creating strain with both the FBI and local communities