Economic and political commentators in India have repeatedly noted their concern about the recent slow-down in the Indian economy. Several recent papers have provided evidence that increase in the economic policy uncertainty (EPU) has played a significant role in the slow-down and the increase...

Does death teach us wisdom or defy the power of reason? Our paper aims to explore this fundamental question by examining investors’ decision framing in their account-level trading on the National Stock Exchange of India during the early pandemic period. We find that the first reported local...

We evaluate the effects of the 2009 Home Affordable Modification Program (HAMP) that provided intermediaries with sizeable financial incentives to renegotiate mortgages. HAMP increased intensity of renegotiations and prevented substantial number of foreclosures but reached just one-third of its...

Following a minimum wage hike, household income rises on average by about $250 per quarter and spending by roughly $700 per quarter for households with minimum wage workers. Most of the spending response is caused by a small number of households who purchase vehicles. Furthermore, we find that...

We evaluate the effects of the 2009 Home Affordable Modification Program (HAMP) that provided intermediaries with sizeable financial incentives to renegotiate mortgages. HAMP increased intensity of renegotiations and prevented substantial number of foreclosures but reached just one-third of its...

Following the 2001 financial crisis, the government of Argentina instituted economic policies to soften the adverse impact of the crisis on the economy. In this paper, we use loan-level data to empirically assess the impact of the currency devaluation and the economic response policies on...