The Economics of Scale-Up -- by Jonathan M.V. Davis, Jonathan Guryan, Kelly...
Most randomized controlled trials (RCT) of social programs test interventions at modest scale. While the hope is that promising programs will be scaled up, we have few successful examples of this...
View ArticleFood vs. Fuel? Impacts of Petroleum Shipments on Agricultural Prices. -- by...
Grain shippers and political figures in North Dakota and nearby states have voiced concern that the dramatic increases in shipments of crude oil by rail have caused service delays and higher costs. We...
View ArticleThe Effects of Perceived Disease Risk and Access Costs on Infant Immunization...
This paper examines the determinants of parental decisions about infant immunization. Using the exact timing of vaccination relative to birth, we estimate the effects of local pertussis outbreaks...
View ArticleSchool District Reform in Newark: Within- and Between-School Changes in...
In 2011-12, Newark launched a set of educational reforms supported by a gift from Facebook CEO Mark Zuckerberg and Priscilla Chan. Using data from 2009 through 2016, we evaluate the change in Newark...
View ArticleDoes Capital Scarcity Matter? -- by Anusha Chari, Peter Blair Henry, Racha...
This paper quantifies the welfare impact of a permanent increase in the level of per capita income brought about by a temporary increase in the growth rate of GDP per capita following capital account...
View ArticleReported Preference vs. Revealed Preference: Evidence from the Propensity to...
We evaluate the consistency of two methods for estimating the effect of an economic policy: i) surveying people to report the change in their behavior caused by the policy, ii) inferring this change...
View ArticleBlind Spots that Derail Careers
Fast Company's Stephanie Vozza writes this week about the need for accurate self-assessment. Â She argues that being blind about our weaknesses can derail our careers. Â She cites a new book by Kellogg...
View ArticleDo We Need Economic Inequality?
Although economic inequality provokes widespread disquiet, its supposed necessity is rarely questioned. At best, a basic level of inequality is seen as a necessary evil. At worst, it is seen as...
View ArticleDo We Need Economic Inequality?
Although economic inequality provokes widespread disquiet, its supposed necessity is rarely questioned. At best, a basic level of inequality is seen as a necessary evil. At worst, it is seen as...
View ArticleCFTC Announces Clearinghouse Liquidity Stress Test Results
Staff of the U.S. Commodity Futures Trading Commission (CFTC) today issued a report detailing the results of an evaluation of settlement liquidity at clearinghouses.
View ArticleWeekly Top 5 Papers – October 16th, 2017
1. The Rise of Behavioral Economics: Richard Thaler’s ‘Misbehaving’ by Cass R. Sunstein ( Harvard Law School)read more...
View ArticleGeometric Learning and Filtering in Finance. (arXiv:1710.05829v1 [q-fin.MF])
We develop a method for incorporating relevant non-Euclidean geometric information into a broad range of classical filtering and statistical or machine learning algorithms. We apply these techniques to...
View ArticleEfficient hedging in Bates model using high-order compact finite differences....
We evaluate the hedging performance of a high-order compact finite difference scheme from [4] for option pricing in Bates model. We compare the scheme's hedging performance to standard finite...
View ArticleRobust Maximum Likelihood Estimation of Sparse Vector Error Correction Model....
In econometrics and finance, the vector error correction model (VECM) is an important time series model for cointegration analysis, which is used to estimate the long-run equilibrium variable...
View ArticleSequential Design and Spatial Modeling for Portfolio Tail Risk Measurement....
We consider calculation of capital requirements when the underlying economic scenarios are determined by simulatable risk factors. In the respective nested simulation framework, the goal is to estimate...
View ArticleDynamic Portfolio Optimization with Looping Contagion Risk....
In this paper we consider a utility maximization problem with defaultable stocks and looping contagion risk. We assume that the default intensity of one company depends on the stock prices of itself...
View ArticleMean Field Game Approach to Production and Exploration of Exhaustible...
In a game theoretic framework, we study energy markets with a continuum of homogenous producers who produce energy from an exhaustible resource such as oil. Each producer simultaneously optimizes...
View ArticleArbitrage-Free Regularization. (arXiv:1710.05114v1 [q-fin.MF])
We introduce a path-dependent geometric framework which generalizes the HJM modeling approach to a wide variety of other asset classes. A machine learning regularization framework is developed with the...
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Gender Representation in Economics Across Topics and Time: Evidence from the...
We document the representation of female economists on the conference programs at the NBER Summer Institute from 2001-2016. Over the period from 2013-2016, women made up 20.6 percent of all authors on...
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