Digitized by the Internet Archive in 2011 with Funding from Massachusetts Institute of Technology Department of Economics Working Paper Series from Education to Democracy? Libraries \ from Education to Democracy?*

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Technology Department of Economics Working Paper Series ' Income and Democracy? Income and Democracy*

We revisit one of the central empirical findings of the pohtical economy literature that higher hicome per capita causes democracy. Existing studies estabUsh a strong cross-country correlation between income and democracy, but do not tjqaically control for factors that simultaneously affect both variables. We show that controlling for such factors by including country fixed effects removes the ...

Digitized by the Internet Archive in 2011 with Funding from Working Paper Department of Economics Reputation, Unobserved Strategies, and Active Suoermartingales by Number 490

massachusetts institute of technology 50 memorial drive

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics R

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics 4he Benefits of Price

Digitized by the Internet Archive in 2011 with Funding from Massachusetts Institute of Technology Department of Economics Working Paper Series Pyramids Jan 2 1 2003 I Pyramids

Most corporate finance models of firm behavior study the typical US corporation: one firm with a large set of dispersed shareholders. In contrast, in many countries around the world, firms are often held in groups with complicated ownership structures. These groups, often referred to as pyramids, raise very distinct questions about firm behavior; these questions that are especially relevant for...