We present a model of public provision of education for blacks in two discriminatory regimes, white plantation controlled, and white yeoman-town controlled. We show that the ability to migrate to a non-discriminating district constrains the ability of both types of regimes to discriminate. The...

Many postbellum southern farms specialized in cotton, but black-operated farms planted much larger shares of cotton than white-operated farms. This paper tests various explanations for the pattern of specialization using 1879 farm-specific data. We find that the cross-sectional racial variation...

This research investigates the stock market reaction to the February 2011 announcement of a new financial product: credit event binary options (CEBOs). The CEBOs could be an alternative to credit default swaps for hedging or speculating on default. These credit options, traded on the Chicago...