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Different segments of a population affected by the same policy intervention may have different responses. We study the role of equilibrium effects on explaining these differences. Our case study is the government's extension of guarantees during the Great Recession to certain debt issuers. We...
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Peru due to interventions implemented by these countries. For this purpose, we first estimate the risk-neutral densities of … model, we assess possible effects on the distributions of the expected exchange rates due to these interventions. We find … economically significant. On the other hand, we find evidence that interventions which objective is to restore and/or assure the …
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We study the optimal intervention policy to stop projects in a relational contract between a principal and a policymaker. The policymaker is privately informed about his ability and privately chooses how much effort to exert. Before a project is completed, the principal receives a signal about...
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