Bringing Real Market Participants' Real Preferences into the Lab: An...
This paper reports on an experimental test of a new market design that is attractive in theory but makes the common and potentially unrealistic assumption that "agents report their type"; that is, that...
View ArticleThe General Equilibrium Impacts of Unemployment Insurance: Evidence from a...
During the Great Recession, U.S. unemployment benefits were extended by up to 73 weeks. Theory predicts that extensions increase unemployment by discouraging job search, a partial equilibrium effect....
View ArticleExperimenting with Entrepreneurship: The Effect of Job-Protected Leave -- by...
Do potential entrepreneurs remain in wage employment because of the danger that they will face worse job opportunities should their entrepreneurial ventures fail? Using a Canadian reform that extended...
View ArticleHow Japan and the US Can Reduce the Stress of Aging -- by Claudia Goldin
The Japanese are becoming older. Americans are also becoming older. Demographic stress in Japan, measured by the dependency ratio (DR), is currently about 0.64. In the immediate pre-WWII era it was...
View ArticleFire-Sale Externalities -- by Eduardo Davila, Anton Korinek
This paper characterizes the efficiency properties of competitive economies with financial constraints and fire sales. We show that two distinct pecuniary externalities occur in such settings:...
View ArticleDo Government Audits Reduce Corruption? Estimating the Impacts of Exposing...
Political corruption is considered a major impediment to economic development, and yet it remains pervasive throughout the world. This paper examines the extent to which government audits of public...
View ArticleEstimating the Technology of Children's Skill Formation -- by Francesco...
We develop a new estimator for the process of children's skill formation in which children's skills endogenously develop according to a dynamic latent factor structure. Rather than assuming skills are...
View ArticleIdentification of Dynamic Latent Factor Models: The Implications of...
A recent and growing area of research applies latent factor models to study the development of children's skills. Some normalization is required in these models because the latent variables have no...
View ArticleDemand Heterogeneity in Insurance Markets: Implications for Equity and...
In many markets insurers are barred from price discrimination on consumer characteristics like age, gender, and medical history. By themselves, such restrictions are known to exacerbate adverse...
View ArticleEstimation of a Roy/Search/Compensating Differential Model of the Labor...
In this paper we develop a model capturing key features of the Roy model, a search model, compensating differentials, and human capital accumulation on-the-job. We establish which features of the model...
View ArticleTime Discounting and Economic Decision-making Among the Elderly -- by David...
This paper evaluates the extent of heterogeneity in time discounting among elderly Americans, as well as its role in explaining older peoples' key behaviors. We first show how older Americans evaluate...
View ArticleJapan’s Financial Services Agency: First Meeting Of The Working Group...
The Working Group on the Financial System of the Financial System Council will hold its first meeting on July 28th, 2016 as follows.read more...
View ArticleCISI Partners With University Of Dubai To Provide Internationally Recognised...
The Chartered Institute for Securities & Investment (CISI), has partnered with the University of Dubai and its Centre of Executive Development to provide internationally recognised financial...
View ArticleHistory tells us what may happen next with Brexit & Trump
Easily the scariest thing I consumed today, and I'm watching strange Things. https://t.co/uvOcvJQsZm â Daniel Egan (@daniel_egan) July 26, 2016
View ArticleLSEG: UnaVista Offers LEI Allocation Service To Help Firms Meet Their...
UnaVista has developed an LEI Allocation service to help reduce the regulatory and operational challenges of becoming an accredited Local Operating Unit (LOU) for Legal Entity Identifiers (LEI).read...
View ArticleBorsa Italiana Welcomes ENAV To MTA
Borsa Italiana today welcomes ENAV to the Main Market (MTA).read more...
View ArticleThai Bourse Scores Top Liquidity And Returns In ASEAN, Expects Robust IPOs In H2
The Stock Exchange of Thailand (SET) has revealed its achievements in the first half with the returns and liquidity reaching number one in ASEAN. Despite the global market volatility, foreign investors...
View ArticleBNP Paribas Investment Partners Appoints Deputy Head Of Emerging Market Fixed...
BNP Paribas Investment Partners announces the appointment of Jean-Charles ‘JC’ Sambor as Deputy Head of Emerging Market Fixed Income. He is based in London and reports to L. Bryan Carter, Head of...
View ArticleESM Adds €1 Billion To 2024 Bond In Tap Auction
The European Stability Mechanism (ESM) today conducted a tap auction of a €3 billion 8-year bond maturing on 22 April 2024. An additional €961 million was issued, bringing the total size of the...
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