The impact of large commercial farms on neighbouring smallholders in low-income sub-Saharan Africa remains controversial. Bringing evidence to a largely anecdotal debate, we deploy a dataset covering all commercial farms in Mozambique, linking them to a nationally representative survey of...

We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...