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We develop a new methodology to estimate the importance of herd behavior in financial markets: we...

This paper mines the experience of capital markets during the 19th century to propose an...

Private transfers between individuals or through organized charities are increasingly viewed as...

The paper proposes a theoretical argument on the nature of bank lending, based on the idea that,...

This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong...

Should donors who are interested in the effectiveness of developmental programs rely on...