Recent military engagements in Iraq (OIF) and Afghanistan (OEF) raise questions about the effects on service members of overseas deployment, which can include service in a combat or war zone, exposure to casualties, or both. The 2010 National Survey of Veterans, which asked a broad cross section...

This paper studies debt fragility and the sharing of the resulting strategic uncertainty through ex post bailouts. Default arises in equilibrium because of both fundamental shocks and beliefs. The probability of default depends on borrowing rates and, in equilibrium, on the beliefs of lenders...

This paper establishes a relationship between the observability of common shocks and optimal organizational design under a multiagent moral hazard environment. We show that, with sucient information about common shocks, a cooperative organization can be optimal even if outputs are highly...