Economic Accelerator with Memory: Discrete Time Approach. (arXiv:1612.07913v1...
Accelerators with power-law memory are proposed in the framework of the discrete time approach. To describe discrete accelerators we use the capital stock adjustment principle, which has been suggested...
View ArticleLong and Short Memory in Economics: Fractional-Order Difference and...
Long and short memory in economic processes is usually described by the so-called discrete fractional differencing and fractional integration. We prove that the discrete fractional differencing and...
View ArticleHow fast does the clock of Finance run? - A time-definition enforcing scale...
A symmetry-guided time redefinition may enhance and simplify analyses of historical series displaying recurrent patterns. Enforcing a simple-scaling symmetry with Hurst exponent 1/2 and the requirement...
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Transparency, Reproducibility, and the Credibility of Economics Research --...
There is growing interest in enhancing research transparency and reproducibility in economics and other scientific fields. We survey existing work on these topics within economics, and discuss the...
View ArticleChild Age and Gender Differences in Food Security in a Low-Income Inner-City...
A long literature in economics concerns itself with differential allocations of resources to different children within the family unit. In a study of approximately 1,500 very disadvantaged families...
View ArticleProcrastination in the Workplace: Evidence from the U.S. Patent Office -- by...
Despite much theoretical attention over the concept of procrastination and much exploration of this phenomenon in laboratory settings, there remain few empirical investigations into procrastination in...
View ArticleHow Does Technological Change Affect Quality-Adjusted Prices in Health Care?...
Medical innovations have improved survival and treatment for many diseases but have simultaneously raised spending on health care. Many health economists believe that technological change is the major...
View ArticleCross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence...
The reallocation of mortgage debt to low-income or marginally qualified borrowers plays a central role in many explanations of the early 2000s housing boom. We show that such a reallocation never...
View ArticleA Structural Analysis of the Effects of the Great Recession on Retirement and...
This paper uses data from the Health and Retirement Study to estimate a structural model of household retirement and saving. It applies that model to analyze the effects of the Great Recession on the...
View ArticleFuel Consumption and Gasoline Prices: The Role of Assortative Matching...
Analyses of polities to reduce gasoline consumption have focused on two effects, a compositional effect on the fuel economy of the automotive fleet and a utilization effect on how much people drive....
View ArticleAsset Managers: Institutional Performance and Smart Betas -- by Joseph...
Using a dataset of $17 trillion of assets under management, we document that actively-managed institutional accounts outperformed strategy benchmarks by 86 (42) basis points gross (net) during...
View ArticleA Passage to America: University Funding and International Students -- by...
The pool of students in the global economy prepared for higher education and able to pay tuition at U.S. colleges and universities has expanded markedly in the last two decades, with a particularly...
View ArticleBlind Tigers and Red-Tape Cocktails: Liquor Control and Homicide in...
In 1893 South Carolina prohibited the private manufacture, transportation, and sale of alcohol and established a state monopoly in wholesale and retail alcohol distribution. The combination of a market...
View ArticleStepping on a Rake: Replication and Diagnosis -- by John H. Cochrane
This paper replicates Sims (2011) "stepping on a rake" model. It derives the model, shows how to solve it, offers some extensions, and boils the paper down to its central ingredient. Sims' article is...
View ArticleDiscrete Adjustment to a Changing Environment: Experimental Evidence -- by...
We conduct a laboratory experiment to shed light on the cognitive limitations that may affect the way decision makers respond to changes in their economic environment. The subjects solve a tracking...
View ArticleWho Benefits Most from SNAP? A Study of Food Security and Food Spending -- by...
We study the effects of SNAP participation on food insecurity and food spending using finite mixture models that allow for a priori unspecified heterogeneous effects. We identify a low food security...
View ArticleMeasuring the temperature and diversity of the U.S. regulatory ecosystem....
Over the last 23 years, the U.S. Securities and Exchange Commission has required over 34,000 companies to file over 165,000 annual reports. These reports, the so-called "Form 10-Ks," contain a...
View ArticleGlobal economic dynamics of the forthcoming years. A forecast....
The paper analyzes the current state of the world economy and offers a short-term forecast of its development. Our analysis of log-periodic oscillations in the DJIA dynamics suggests that in the second...
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