A functioning economy provides people with access to credit, insurance, and, among other things, investment opportunities. But what happens in poor communities where they are landless and have no wealth? Eliana La Ferrara says the social structure within those communities offers the collateral they need to make the economy work. La Ferrara is a Professor of Public Policy at Harvard Kennedy School and an award-winning economist whose work has helped us understand how the economics of the poor are deeply interwoven into the social fabric and norms of their communities. Journalist Rhoda Metcalfe sat down with La Ferrara to discuss her work in Africa, and how she came to focus on development issues that are often overlooked. The interview is part of the IMF series on extraordinary Women in Economics.
Credit cards that offer rewards like travel discounts seem a good idea, but rewards cards can be costly for anyone who keeps a running balance. So should there be rules around who gets one? IMF economist Andrea Presbitero is coauthor of a study that looks at the distributional impact of rewards cards. In this podcast, Presbitero says while the high interest rates and penalties associated with these cards can widen wealth inequality, limiting access is not the answer. Transcript: https://bit.ly/3r5fzwY