We estimate the causal effect of sovereign default on the equity returns of Argentine firms. We identify this effect by exploiting changes in the probability of Argentine sovereign default induced by legal rulings in the case of Republic of Argentina v. NML Capital. Because the legal rulings...

We study fiscal and monetary policy in a monetary union with the potential for rollover crises in sovereign debt markets. Member-country fiscal authorities lack commitment to repay their debt and choose fiscal policy independently. A common monetary authority chooses inflation for the union,...

Recent empirical work has demonstrated the importance both of educational peer effects and of various factors that affect college choices. We connect these literatures by highlighting a previously unstudied determinant of college choice, namely the college choice made by one?s older sibling....

The study of political and social violence and conflict has expanded in recent decades, concurrent with a rise in the use of mixed methods research throughout the social sciences. This paper examines how qualitative and quantitative research and methods may best be integrated in studies of...

Within academia, men are tenured at higher rates than women are in most quantitative fields, including economics. Researchers have attempted to identify the source of this disparity but find that nearly 30% of the gap remains unexplained even after controlling for family commitments and...

We present a new model of investors delegating portfolio management to professionals based on trust.  Trust in the manager reduces an investor?s perception of the riskiness of a given investment, and allows managers to charge fees.  Money managers compete for investor funds by setting fees,...

Economic analysis of rank-order tournaments has shown that intensified competition leads to declining performance. Empirical research demonstrates that individuals in tournament-type contests perform less well on average in the presence of larger number of competitors in total and superstars....