Electricity is a peculiar economic good, the most important reason being that it needs to be supplied at the very moment of consumption. As a result, wholesale electricity prices fluctuate widely at hourly or sub-hourly time scales, regularly reaching multiples of their average, and even turn...

Electricity needs to be consumed at the very moment of production, leading wholesale prices to fluctuate widely at (sub-)hourly time scales. This article investigates the response of aggregate electricity demand to such price variations. Using wind energy as an instrument, we estimate a...

This paper examines data on urbanization. We review the most commonly used data sources, and highlight the difficulties inherent in defining and measuring the size of urban versus rural populations. We show that differences in the measurement of urban populations across countries and over time...

While demand response is recognized as a useful tool in reducing costs of integrating renewable electricity, the related literature in developing countries has been limited due to lack of data on end use load profiles. Meanwhile, while the water-energy-nexus is well researched, the value of...

Stock price synchronicity has been attributed to poor corporate governance and a lack of firm-level transparency. This paper investigates the association between different kinds of firm interlocks, control groups, and synchronicity in Chile. A unique dataset containing equity cross-holdings,...

By late 2009, Nokia was grappling with the decision of whether to recover its leading position in the high-profit developed markets, where they were losing market share to the likes of Apple and Samsung, or defend its market leadership in the low-margin, high-volume emerging markets. This case...

We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s, we find evidence that domestic international...

Many countries regulate the quality of food and drugs, yet it remains unclear whether markets can be relied upon to deliver high quality in the absence of regulation, notably where companies can advertise the superior quality of their products. We present evidence from two field experiments in...

We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and Disclosure scores developed recently by Standard amp; Poor's. These scores rate...