We develop a framework that makes it possible to study, for the first time, the strategic interac-tion between the ex ante choice of exchange-rate regime and the likelihood of ex post currency attacks. The optimal regime is determined by a policymaker who trades off the loss from nom-inal...

We develop a theoretical framework of trade on a platform on which buyers and sellers interact, and compare the impact of different platform ownership structures. If two-sided network effects are strong, monopoly ownership induces more trade than dispersed ownership and is therefore socially...