Originally, the Internet was a technological playground, a collaborative endeavor among researchers who shared the common goal of achieving communication. Self-interest used not to be a concern, but the motivations of the Internet's participants have broadened. Today, the Internet consists of...

We construct optimal portfolios of mutual funds whose objectives include socially responsible investment (SRI). Comparing portfolios of these funds to those constructed from the broader fund universe reveals the cost of imposing the SRI constraint on investors seeking the highest Sharpe ratio....

Both empirical and theoretical studies suggest that currency attacks can occur even in a fixed exchange rate regime with sound fundamentals. Can mechanisms be designed to prevent such currency attacks? To address this question, we first need a theory of currency crisis. I argue that such a...