This paper examines the real effects of weather on firm performance, using temperature as our proxy for weather. The relation between temperature and performance depends on season, industry, geographic location, and is often firm-specific. Therefore, to test this relation we adapt a measure of...

Does the onset of violent turmoil in an immigrant’s country of origin affect their honesty in economic exchange? We test this question using Egyptian cab drivers in NYC. Native country turmoil could increase demand for remittances or spur anger or anxiety, which could boost cheating, as both...

We investigate whether banks rely on the information content in equity analysts' annual earnings forecasts when assessing the risk of potential borrowers. While a long literature finds that analysts provide useful information to market participants, it is not clear that banks, which have access...