This paper develops a test for instrument strength based on the bias of two-stage least squares (2SLS) that: (1) generalizes the Stock-Yogo (2005) and Sanderson-Windmeijer (2016) tests to be robust to …
PublishedClassicJournal of Economic LiteraturePublished Nov 2007
The literature's standard finding -- that countries with open capital accounts do not grow faster -- tests a prediction the neoclassical growth model never makes, because in that model liberalization …
US court rulings in Republic of Argentina v. NML Capital moved the market-implied probability that Argentina would default on its restructured bonds without carrying any news about the Argentine …