In this paper, we compare the efficiencies of seven primary renewable energy technologies that generate electricity. We use Data Envelopment Analysis (DEA) to determine the most efficient renewable energy source with predetermined input and output variables. We apply four different analytical...

We study the transmission channels from central banks' quantitative easing programs via the banking sector when central banks start purchasing corporate bonds. We find evidence consistent with a “capital structure channel” of monetary policy. The announcement of central bank purchases...

The growing dominance of the core and explore model – a large passive index combined with a collection of high tracking error satellite portfolios – in conjunction with the growth of factor investing has renewed interest in how to allocate among different equity strategies. We study this...

Using a new measure of labor mobility instrumented by state-level shocks, I find that an increase in worker mobility negatively affects firms' average leverage and investment rates, but only in firms that rely on high-skill workers. I develop a dynamic model that provides an economic mechanism...

The secondary market in the debt of less developed countries, now known as the ‘emerging markets', has been newsworthy throughout the 1990s because of its explosive growth and the profitability of some investments in these markets. However, few appreciate how the strategy of repeated...

In the past thirty years portfolio capital flows have come to prominence, far eclipsing trade flows in volume and significance. In particular, transnational capital flows came to prominence in our region as one of the contributing factors to the Asian economic crisis that commenced in 1997....

Buyers may try to motivate their sellers to make relationship-specific investments to reduce the probability that the design of the goods they procure is defective. In some countries, courts examine how much real authority the seller had in performing the work to assign liability for a design...

Under the but-for requirement of causation, a tort injurer cannot be held liable for more than the difference between the loss the victim would have suffered if the injurer had not been negligent, and the loss actually suffered by the victim. We ask whether this causation requirement yields...