We study how a continuum of agents learn about disseminated information by observing others’ actions. Every period each agent observes a public and private noisy signal centered around the aggregate action taken by the population. The public signal represents an endogenous aggregate variable...

Recent sovereign defaults in emerging countries are accompanied by interest rate spikes and deep recessions. This paper develops a small open economy model to study default risk and its interaction with output, consumption, and foreign debt. Default probabilities and interest rates depend on...

Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 2011.

Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 2009.