This paper considers the role of corruption in impelling capital flight. Identifying corruption as one dimension of poor governance, the empirical analysis explores direct linkages between corruption and capital flight in a broad sample of countries. The novelty of this investigation is that it...

Informational asymmetries in financing small business require lenders to continually produce reliable private information about borrower performance. While it is well recognized that information required to monitor short-term working capital loans is quite different from long-term non-recurring...

A new daily data set of Confederate cotton bonds trading in Liverpool is analyzed in conjunction with Union Greenback prices to asses the impact of war news on Civil War asset prices. The empirical analysis indicates the presence of a cointegrating relationship between Union Greenback prices and...

The rash of international financial crises in the 1990s have stimulated great interest in models to predict crises and explain the patterns of contagion that follow crisis. In both of these respects analysis of the Asian crisis has proven to be quite controversial. While some economists have...

We re-examine the behavior of money growth, inflation and real money balances in post-World War II Taiwan. Prior work has argued that stabilization was achieved discreetly and abruptly in June 1949. Our results suggest, however, that there is an extended period of instability that begins several...

This paper finds that Filipino Americans face significant discrimination in the labor market. Filipino Americans face both wage discrimination and occupational discrimination. But the amount of discrimination faced by Filipino Americans depends on combinations of gender, region of residence, and...

We find that bargaining over multiple issues as a bundle allows for credible cheap talk on the relative importance of the issues even when interests are directly opposed on each issue. This communication increases the chance of agreement by allowing the offerer to concede more on the issue of...