Using a survey-experiment methodology we evaluate whether pre-service elementary school teachers’ expectations about students’ achievement, and beliefs about students’ need for academic support, are influenced by future teachers’ mathematics anxiety level or by gender and socioeconomic...

We study a class of repeated games with Markovian private information and characterize optimal equilibria as players become arbitrarily patient.  We show that seemingly non-cooperative action may occur in equilibrium and serve as signals of changes in private information. Players forgive such...

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Using a novel panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we find that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. By contrast, we find no robust...

This This paper determines the probability a large electorate will take take the correct decision under qualified majority rules. The model allows the competence of each elector to vary with the size of the electorate, thus the results represent a connection between "naive" and "strategic"...

We study the consequences of imposing a minimum coverage in an insurance market where enrollment is mandatory and agents have private information on their true risk type. If the regulation is not too stringent, the equilibrium is separating in which a single firm monopolizes the high risks while...

Proposers strategically formulate legislative bills before voting takes place. However, spatial voting models that estimate legislator’s ideological preferences do not explicitly consider this fact. In our model, proposers determine the ideology and valence of legislative bills to maximize...

Although credit rating agencies have gradually moved away from a policy of never rating a corporation above the sovereign (the 'sovereign ceiling'), it appears that sovereign credit ratings remain a significant determinant of corporate credit ratings. We examine this link using data for advanced...

We consider a two-period model of a banking system to explore the effects of competition on the stability and efficiency of economic activity. In the model, competing banks lend to entrepreneurs. After entrepreneurs receive the loans for their projects, there is a probability of a shock. The...

This paper studies which social networks maximize trust and cooperation when agreements are implicitly enforced. We study a repeated trust game in which trading opportunities arise exogenously and the social network determines the information transmission technology. We show that cohesive...