University of Maryland, College Park
Information about this author at RePEc
NBER Working Papers and Publications
|April 2011||Coups, Corporations, and Classified Information|
with Arindrajit Dube, Suresh Naidu: w16952
We estimate the impact of coups and top-secret coup authorizations on asset prices of partially nationalized multinational companies that stood to benefit from US-backed coups. Stock returns of highly exposed firms reacted to coup authorizations classified as top-secret. The average cumulative abnormal return to a coup authorization was 9% over 4 days for a fully nationalized company, rising to more than 13% over sixteen days. Pre-coup authorizations accounted for a larger share of stock price increases than the actual coup events themselves.There is no effect in the case of the widely publicized, poorly executed Cuban operations, consistent with abnormal returns to coup authorizations reflecting credible private information. We also introduce two new intuitive and easy to implement nonpar...
Published: Arindrajit Dube & Ethan Kaplan & Suresh Naidu, 2011. "Coups, Corporations, and Classified Information," The Quarterly Journal of Economics, Oxford University Press, vol. 126(3), pages 1375-1409. citation courtesy of
|April 2006||The Fox News Effect: Media Bias and Voting|
with Stefano DellaVigna: w12169
Does media bias affect voting? We address this question by looking at the entry of Fox News in cable markets and its impact on voting. Between October 1996 and November 2000, the conservative Fox News Channel was introduced in the cable programming of 20 percent of US towns. Fox News availability in 2000 appears to be largely idiosyncratic. Using a data set of voting data for 9,256 towns, we investigate if Republicans gained vote share in towns where Fox News entered the cable market by the year 2000. We find a significant effect of the introduction of Fox News on the vote share in Presidential elections between 1996 and 2000. Republicans gain 0.4 to 0.7 percentage points in the towns which broadcast Fox News. The results are robust to town-level controls, district and county fixed effects...
Published: DellaVigna, Stefano and Ethan Kaplan. “The Fox News Effect: Media Bias and Voting.” Quarterly Journal of Economics 122 (August 2007): 1187-1234. citation courtesy of
|January 2002||Did the Malaysian Capital Controls Work?|
with Dani Rodrik
in Preventing Currency Crises in Emerging Markets, Sebastian Edwards and Jeffrey A. Frankel, editors
|February 2001||Did the Malaysian Capital Controls Work?|
with Dani Rodrik: w8142
Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not play a significant role in facilitating Malaysia's rebound. However, the financial crisis was deepening in Malaysia in the summer of 1998, while it had significantly eased up in Korea and Thailand. We employ a time-shifted differences-in- differences technique to exploit the differences in the timing of the crises. Compared to IMF programs, we find that the Malaysian policies produced faster economic recovery, smaller declines in employment and real wages, and more rapid turnaround in the stock market.
Published: Did the Malaysian Capital Controls Work?, Ethan Kaplan, Dani Rodrik. in Preventing Currency Crises in Emerging Markets, Edwards and Frankel. 2002