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Abstract We develop a new index of economic policy uncertainty (EPU) based on newspaper coverage frequency. Several types of evidence—including human readings of 12,000 newspaper articles—indicate that our index prox...

This paper presents a simple model of debt contracts in order to analyze the conditions under which domestic residents would choose to denominate debts in "dollars". In the model, borrowers are producers of non-traded go...

The 1990s emerging-markets crises were characterized by sudden reversals in inflows of foreign capital followed by unusually large declines in current account deficits, private expenditures, production, and prices of non...

Dividend policy is central to the performance and valuation of listed companies, but the issue still remains scarcely investigated in emerging countries. The purpose of this paper is to study, for the first time, the det...