1.The Situation:June2008 The Last Financial Crisis of the Nineteenth Century J. Bradford DeLong U.C. Berkeley and NBER [email_address]2. Friday’s Macroeconomic News 3.…
1. Observational Learning: Evidence from a Randomized NaturalField ExperimentBy Hongbin Cai, Yuyu Chen, and Hanming Fang March 10, 2008 AbstractWe report results from a randomized…
SPECULATION AND RISK SHARING WITH NEW FINANCIAL ASSETS Alp Simsek� March 13, 2013 Abstract I investigate the e¤ect of nancial innovation on portfolio risks when traders…
Isolated Capital Cities, Accountability and Corruption: Evidence from US States (Article begins on next page) The Harvard community has made this article openly available.…
Banks as Secret Keepers ⇤ Tri Vi Dang† Gary Gorton‡ Bengt Holmstro¨m§ Guillermo Ordon˜ez¶ June 2014 Abstract Banks are optimally opaque institutions. They produce…