This paper investigates the more than doubling of Confederate cotton bond prices between December 1863 and September 1864, even after critical defeats of Southern armies at Gettysburg and Vicksurg in the summer of 1863. Offsetting adverse war news during this period were movements in the price...

This paper builds an age-structural model of human population genetics in which agents are endowed with a high-dimensional genome that determines their cognitive and physical characteristics. Young adults optimally search for a marriage partner, work for firms, consume goods, save for old age...

The paper examines the influence of factor price risk on factor-use efficiency through the adoption of conservation technology. The effect of a mean-preserving increase in factor price risk on optimal input-use efficiency is shown to be conditional on the own-price elasticity of factor use...

The Confederate States of America floated two small bond issues in Europe during the American Civil War; cotton bonds that traded primarily in England and junk bonds in Amsterdam. The Confederacy serviced the cotton bonds for the duration of the war and defaulted on the junk bond issue....

This paper argues that while sources of potential discipline over domestic macro economic policies such as pegged exchange rates, high capital mobility, and IMF policy conditionality are commonly viewed as constraints, it is usually more productive to view them as influencing incentive...

There is longstanding evidence that children raised by single parents are more likely to perform poorly in school and partake in ‘deviant’ behaviors such as smoking, sex, substance use and crime at young ages. However, as of yet there is not widespread evidence or agreement as to whether or...

This paper analyzes the impact of vertical integration on investment and other strategies in a dynamic common agency framework. Movie distribution is used as a motivating example. The model matches several facts about movie distribution; distributors avoid head-to-head new hit releases, hits...