Microstructure noise contaminates high-frequency estimates of asset price volatility. Recent work has determined a preferred sampling frequency under the assumption that the properties of noise are constant. Given the sampling frequency, the high-frequency observations are given equal weight....

This book reviews the theory and practice of rural finance in the Latin American and Caribbean region. It explains why rural financial markets function the way they do and what changes would be needed to make improvements. It also provides an in-depth assessment of the policy and institutional...

Climate change threatens to create roughly 200 million environmental refugees by 2050. By the author's definition, these people will lack the goods required to live a minimally good human life and will be forced to cross international borders in search of resettlement and support. Given that...

We develop a microstructure model that, in contrast to previous models, allows one to estimate the frequency and quality of private information. In addition, the model produces stationary asset price and trading volume series. We find evidence that information arrives frequently within a day and...

Climate change threatens to create roughly 200 million environmental refugees by 2050. By the author's definition, these people will lack the goods required to live a minimally good human life and will be forced to cross international borders in search of resettlement and support. Given that...