The purpose of this paper is to gain a better understanding of the black market premium--the percentage differential between the black market and the official exchange rate. Tests are used to see whether the black market premium responds to variations in expectations about the official exchange...

We test whether the exchange regime in place has an impact on the vulnerability of countries to currency crises. Our paper is distinguishable from others (i) in its use of extreme value theory to identify currency crisis periods and (ii) in using two separate designations for the exchange regime...

In 2010, an amendment to the Dominican constitution weakened the concept of jus soli citizenship by denying Dominican nationality to individuals born on Dominican soil to irregular immigrants. A few years later, in 2013, the Dominican High Court denationalized large numbers of individuals by...

Using a recent Spanish database, we show that remittances respond to cross country differences in portfolio values. This behavior suggests that immigrants are sophisticated economic optimizers who take advantage of opportunities to invest trans-nationally given the networks that immigrants are...