We study how a preferential trade agreement (PTA) affects international sourcing decisions, aggregate productivity and welfare under incomplete contracting and endogenous matching. Contract incompleteness implies ...

Around the world, students from a disadvantaged background are underrepresented in prestigious and lucrative fields of study, such as medicine and STEM. We know little about whether universities can affect individuals' ...

We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To ...

Using a continuous-time price discovery model, we show that the standard econometric framework typically yields inconsistent estimates of the price discovery measures in the presence of market microstructure noise due the ...