We estimate a dynamic model of multidimensional human capital development from childhood through adolescence and into early adulthood for a Peruvian cohort born in 1994. We exploit multiple measures of cognitive and socio-emotional skills and a latent factor structure to estimate flexible skills...

We study three cases in which specialized arbitrageurs lost significant amounts of capital and, as a result, became liquidity demanders rather than providers. The effects on security markets were large and persistent: Prices dropped relative to fundamentals and the rebound took months. While...

We estimate a dynamic model of multidimensional human capital development from childhood through adolescence and into early adulthood for a Peruvian cohort born in 1994. We exploit multiple measures of cognitive and socio-emotional skills and a latent factor structure to estimate flexible skills...

This paper examines the trading behavior of professional investors around 2,130 mergers announced between 1994 and 2000. We find considerable support for the existence of price pressure around mergers caused by uninformed shifts in excess demand, but that these effects are short-lived,...