The boats that did not sail: Asset Price Volatility and Market Efficiency in a Natural Experiment
NBER Working Paper No. 18831
---- Acknowledgements -----
This paper is based on the first chapter of my dissertation. I thank Hans-Joachim Voth (my advisor) and Fernando Broner and Jaume Ventura (committee members) for their advice and support. I thank Karine van der Beek, Harry Garretsen, Benjamin Golez, Jakub Jurek, Floor Koudijs, Larry Neal, Andrej Ukhov, Nico Voigtländer, Jan de Vries and Jan Luiten van Zanden and seminar participants at Cambridge, CPB, Evanston (EHA meetings), Geneva (EHES meetings), Princeton, Nottingham (EHS meetings), NYU Stern, UC Davis, UC Berkeley, Utrecht University, and Tilburg University for their feedback. Many thanks to Daphne Acoca, Michelle Lee, Sophia Paliza and Hannah Rusk for excellent research assistance. Any errors are my own. This project was financed by the Spanish Ministry of Education and Stanford GSB. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.