Recent activities:

The Financial Diaries book was published in April 2017, based on 5 years of fieldwork and analysis co-led with Rachel Schneider. The book tells stories of how families cope with economic insecurity and gives a new view of poverty in America.

The 2nd edition of Economics, an intro textbook (micro + macro) written with Dean Karlan, came out in February 2017. The book provides an empirical, problem-solving approach to economics – with an emphasis on evidence and real-world connections.

In summer 2017, I’m focused on an experiment in Bangladesh that brings together digital finance, migration, and poverty. I’m also updating writings/thoughts on global microfinance and financial inclusion.

2016-17 was spent on sabbatical at the Institute for Advanced Study in Princeton, New Jersey. I’m back at NYU starting September 2017.

Selected recent work

Jonathan Morduch and Rachel Schneider, The Financial Diaries: How American Families Cope in a World of Uncertainty (Princeton 2017)

Reviews and coverage / Related writing



Dean Karlan and Jonathan Morduch. Economics, 2nd edition. McGraw-Hill/Irwin, February 2017.



Jonathan Morduch. “Economics and the Social Meaning of Money,” chapter 1 in Nina Bandelj, Frederick F. Wherry and Viviana Zelizer, eds., Money Talks: Explaining How Money Really Works. Princeton, NJ: Princeton University Press. 2017.




Jonathan Morduch and Julie Siwicki. 2017. “In and Out of Poverty: Poverty spells and income volatility in the U.S. Financial Diaries.” US Financial Diaries Project / FAI New York University. June.

Robert Cull, Jonathan Morduch, and Asli Demirgüç-Kunt. “The Microfinance Business Model: Enduring Subsidy and Modest Profit.” World Bank Policy Research Working Paper WPS7786, July 2016. Blog post.

Jonathan Bauchet, Jonathan Morduch, and Shamika Ravi. “Failure vs Displacement: Why an innovative anti-poverty program showed no net impact in South India.” Journal of Development Economics 116, September 2015: 1-16.

Robert Cull, Jonathan Morduch, and Asli Demirgüç-Kunt. “Banks and Microbanks.” Journal of Financial Services Research 46 (1), August 2014: 1-53.

David Roodman and Jonathan Morduch. “The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence.” Journal of Development Studies 50 (4), April 2014: 583-604. [Appendix.] [Drafts, code, data, more.]