Background: Health care systems in many countries are characterized by limited availability of provider performance data that can be used to design and implement welfare improving reforms in the health sector. We question whether a simple mystery shopper scheme can be an effective measure to...

This paper provides new evidence in support of the idea that bouts of optimism and pessimism drive much of US business cycles. In particular, we begin by using sign-restriction based identification schemes to isolate innovations in optimism or pessimism and we document the extent to which such...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

Previous empirical studies find that lottery-like stocks significantly underperform their non-lottery-like counterparts. Using five different measures of the lottery features in the literature, we document that the anomalies associated with these measures are state-dependent: the evidence...