We first systematically study the multivortex states in mesoscopic superconductors via self-consistent Bogoliubov-de Gennes equations. Our work focuses on how the geometrical symmetry affects the penetration and arrangement of vortices in mesoscopic superconductors and find that the key...

Do people "vote with their feet" due to a lack of political competition? We formalize the theory of political competition and migration to show that increasing political competition lowers political rent leading to net in-migration. Our empirical application using US data supports this...

This paper presents a formal analysis of the relation between monitoring and limit order submission risk. With heterogeneous information, limit order traders face two types of risk. First, they may be "picked off" when prices change unexpectedly after the limit order is entered (known as free...

This paper empirically examines limit order revisions and cancellations which contribute to a significant portion of the order activity in many order-driven markets. We document that limit orders are more likely to be revised or cancelled if they are large and near the bid-ask quote. We show...

This paper has two objectives. First, it presents a survey of the literature surrounding the relation between political monopoly and economic development. Second, it offers an analysis of how commoners' high degree of tolerance towards unfair inequality of income distribution between theirs and...

We model and predict that politicians have incentives to delay bank failure in election years and that this incentive is exacerbated if the election is close. Our empirical application using the US data supports these predictions. At the bank level, we show that bank failure in an election year...

We examine changes to corporate ownership in nine East Asian countries following the 1997 Asian Financial Crisis. Countries with lower incomes and in which policy making involves greater transactions costs (i.e., veto points) have more firms with state ownership. Partial state ownership appears...