Recent research suggests that obesity is linked to prominent alterations in learning and decision-making. This general difference may also underlie the preference for immediately consumable, highly palatable but unhealthy ...

I present three essays in international macro-finance. The first is a selective survey of crises and contagion that identifies the competing explanations for the transmission of shocks through and across economies. The ...

We examine returns, order flow, and market conditions in the minutes before, during, and after NYSE and Nasdaq short sales. We find two distinct types of short sales: those that provide liquidity, and those that demand it. ...

We empirically analyze the prevalence and economic underpinnings of closing price manipulation and its detection. We estimate that ∼1% of closing prices are manipulated, of which only a small fraction is detected and ...

Stephen Satchell’s paper ‘An assessment of the social desirability of high-frequency trading’, in this issue of JASSA examines the costs and benefits, and highlights some empirical evidence on the impact of HFT on market ...