We approximate the finite-sample distribution of impulse response function (IRF) estimators that are just-identified with a weak instrument using the conventional local-to-zero asymptotic framework. Since the distribution lacks a mean, we assess bias using the mode and conclude that researchers...

We provide new evidence on the effect of minority elected state representatives on economic development and schooling in India. Using data on candidates in all state assembly elections from 1974 to 2017, we exploit two discontinuities in the reservation of constituencies for Scheduled Castes...

We investigate the impact of mergers on R&D incentives within a framework of R&D competition where effort can influence both the probability of innovation and the payoff conditional on success. Our framework nests the results of two classes of existing models and reveals assumptions that are...