On the Optimal Timing of Foreign Aid
We offer a dynamic formulation of the aid process, in which questions of timing are central. It is shown that in most cases it is optimal to give the aid partly in a lump, at the outset, and partly as a flow, over time. However, if the donor and recipient cooperate, stock and flow aid may be of opposite sign. It is shown also that when marginal utility is of constant elasticity, the rate of flow of aid increases (decreases) if and only if the initial world stock of capital is less than (greater than) its steady-state value.
Aid allocation rules
This paper studies an aid allocation rule used by major development agencies, and investigates optimal allocations when recipients are neoclassical economies undergoing transition dynamics. When recipients face aid absorption constraints, allocations that favor poorer recipients are not always optimal, contrary to what is assumed in assessments of donor performance. The most quantitatively significant factors that determine the optimal sensitivity to recipient characteristics are the generosity of the aid budget and the extent of absorption constraints. In neoclassical recipients, aid can only accelerate growth where there is already growth, so the optimal rule places little weight on growth and optimality is largely a matter of balancing recipient need against absorption constraints.
Iustitia Dei: A History of the Christian Doctrine of Justification
Preface Acknowledgements 1. Prolegomena 2. The fountainhead: Augustine of Hippo 3. The development of the doctrine in the medieval period 4. The medieval schools of thought on justification 5. The transition from the medieval to the modern period 6. The development of the doctrine in the Reformation period 7. The Tridentine decree of justification 8. The legacy of the English Reformation 9. The modern period Appendix: a glossary of medieval soteriological terms Abbreviations Notes Bibliography Index.