Using a large sample of U.S. mortgages observed over the 2005-2009 period, we find that foreclosures are contagious. After controlling for major factors known to influence a borrower's decision to default, including borrower and loan characteristics, local demographic and economic conditions,...

One of the most frequently debated issues in Congress over the past few years has been the value of the Chinese renminbi (RMB) relative to the dollar. It is no secret that congressmen in the U.S. frequently accuse China of being a “currency manipulator.” This paper has two objectives. First,...

Many scholars argue that a sizable share of the news about China published in U.S. newspapers engages in “China Bashing.” This paper quantifies the extent of the bashing and examines its effect on Sino-American relations. To measure bashing, I develop an index based on the count of articles...

This paper compares corruption in China over the past 15 years with corruption in the U.S. between 1870 and 1930, periods that are roughly comparable in terms of real income per capita. Corruption indicators for both countries and both periods are constructed by tracking corruption news in...

Using a large sample of U.S. mortgages observed over the 2005-2009 period, we find that foreclosures are contagious. After controlling for major factors known to influence a borrower's decision to default, including borrower and loan characteristics, local demographic and economic conditions,...