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This paper studies the effects of overreaction to recent news for macroeconomic outcomes in the context of a quantitative model of sovereign debt and default. Overreaction is formalized in terms of …
We study the extent and consequences of biases against immigrants exhibited by high school teachers in Finland. Compared to native students, immigrant students receive 0.06 standard deviation units …
Philippe Aghion, Ufuk Akcigit, Ari Hyytinen, and Otto Toivanen
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …