In the first chapter I introduce the ideas that link selling information to surplus extraction. In my environment the seller may be uncertain about how much the buyer both has already learned before contracting with the seller (belief types) and is able to learn after contracting with the seller (information...
This dissertation explores our understanding of corporate credit ratings. In the first chapter I examine the issue of split ratings. S&P and Moody’s often differ in their initial ratings at bond issuance, producing what is referred to as a split rating. The consensus view in the literature and in practice...
This dissertation examines three empirical questions related to human capital in developing countries. Chapter 1 studies the educational and labor market impacts of the telesecundarias, Mexican secondary schools that use televisions to deliver instruction. In areas where there is an insufficient supply of qualified teachers, delivering instruction through technology may...
This thesis investigates various aspects of productivity. In the first chapter I investigate the role of consumer demand in generating productivity dispersion. In particular, I study how differences in consumer preferences across the household income distribution generate dispersion in markups across the Indian manufacturing sector. I find that this consumer...
In this dissertation I examine issues related to uncertainty and robustness in game theory. In Chapter 1 a strategic setting is analyzed where players face Knightian uncertainty about the strategic choices of their opponents. That is, in contrast to the usual Bayesian framework and in line with experimental evidence, players...
This dissertation is composed by three chapters. Chapter one is about productivity hysterisis in the U.S. after the Great Recession. The United States has been experiencing a slowdown in productivity growth for more than a decade. I exploit geographic variation across U.S. Metropolitan Statistical Areas (MSAs) to investigate the link...
In this dissertation I analyze how population aging and political considerations can affect the conduct of fiscal policy and the management of sovereign debt. In Chapter 1 I focus on the impact of an aging population. In Chapter 2 I consider the effects of political uncertainty. How an aging population...
In Chapter 1 I characterize sharp bounds on treatment effects under data combination with instrumental variables. Data combination in this paper refers to having multiple samples drawn from the same population in which observations cannot be linked across samples. I allow for subsets of the outcome, treatment, instrument and covariates...
In Chapter 1, I investigate whether physical capital anchors the spatial distribution of economic activity and how capital destruction affects local economic activity in the short and the long term. I investigate these questions by examining the 1975 frost that damaged coffee trees in the Brazilian state of Paraná. I...
This dissertation is a wide-range study of the relationships between the three central elements of the production function: technology, capital and its financing, and labor. Chapter 1 analyzes the relationship between labor and recent wave of automation and digitization technologies, showing that while they typically substitute for workers, in several...