"The paper documents a new empirical result that a high level of aggregate U.S. idiosyncratic stock return volatility is usually associated with a future appreciation in U.S. dollars. The relation is highly significant for most foreign currencies. For example, idiosyncratic volatility accounts...

The past decade has seen the emergence of numerous rigorous impact evaluations of teacher policies. This paper reviews the economic theory and empirical evidence on eight teacher policy goals: (1) setting clear expectations for teachers; (2) attracting the best into teaching; (3) preparing...