A policy of deputization asks agents to monitor others without providing explicit incentives. It is often used to prevent dangerous activities. To calibrate whether and why it works, we study recent laws that deputized financial professionals to help fight elder financial abuse. We show...

This paper compiles project-level data from the World Bank's lending history to describe patterns and the composition of its portfolio. The paper focuses particularly on the effect of countries' transition from International Development Association to International Bank for Reconstruction and...

In a multiperiod investment framework, firms with high expected growth earn higher expected returns than firms with low expected growth, holding investment and expected profitability constant. This paper forms cross-sectional growth forecasts, and constructs an expected growth factor that yields...