Substantial attention has been paid in recent years to the risk of maturity mismatch in emerging markets. Although this risk is microeconomic in nature, the evidence advanced thus far has taken the form of macro correlations. This paper empirically evaluates this mechanism at the micro level by...

Much has been written recently about the problems for emerging markets that might result from a mismatch between foreign-currency denominated liabilities and assets (or income flows) denominated in local currency. In particular, several models, developed in the aftermath of financial crises of...

Are U.S. immigrants' English proficiency and social outcomes the result of their cultural preferences, or of more fundamental constraints? Using 2000 Census microdata, we relate immigrants' marriage, fertility and residential location variables to their age at arrival in the U.S., and in...

We test whether the effect of English proficiency differs between Hispanic and non-Hispanic immigrants. Using 2000 U.S. Census microdata on immigrants who arrived before age 15, we relate labor market, education, marriage, fertility and location of residence variables to their age at arrival in...

Using plausibly exogenous variation in demand for federal funds created by daily shocks to reserve balances, we identify the supply curve facing a bank borrower in the interbank market and study how access to overnight credit is affected by changes in public and private measures of borrower...