We study the information content of stock reports when investors are uncertain about a financial analyst's incentives. Incentives may be aligned, in which case the analyst wishes to credibly convey information, or incentives may be misaligned. We find the following: Any investor uncertainty...

The U.S. Federal Reserve has been steadily shrinking its balance sheet as part of its effort to normalize policy following the financial crisis. Other central banks have announced similar intentions, potentially resulting in the withdrawal of an unprecedented amount of liquidity from the global...

This paper considers identification and estimation of a general model for online price competition. We show that when the number of competing firms is unknown, the underlying parameters of the model can still be identified and estimated employing recently developed results on measurement errors....