Related Investing: Corporate Ownership and Capital Mobilization during Early...
Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as...
View ArticleThe Economic Consequences of Family Policies: Lessons from a Century of...
We draw lessons from existing work and our own analysis on the effects of parental leave and other interventions aimed at aiding families. The outcomes of interest are female employment, gender gaps in...
View ArticleTargeted Remedial Education: Experimental Evidence from Peru -- by Juan...
An outstanding challenge in education is improving learning among low-achieving students. We present results from the first randomized experiment of an inquiry-based remedial science-education program...
View ArticleFDI and Capital Formation in Developing Economies: New Evidence from...
We contribute to the long debated issue of whether inward foreign direct investment (FDI) can stimulate investment in developing countries by introducing a novel measure of FDI, based on industry-level...
View ArticleOpen Borders in the European Union and Beyond: Migration Flows and Labor...
In 2004, the European Union admitted 10 new countries, and wages in these countries were generally well below the levels in the existing member countries. Citizens of these newly-admitted countries...
View ArticleThe Rise of American Ingenuity: Innovation and Inventors of the Golden Age --...
We examine the golden age of U.S. innovation by undertaking a major data collection exercise linking historical U.S. patents to state and county-level aggregates and matching inventors to Federal...
View ArticleExit, Tweets and Loyalty -- by Joshua S. Gans, Avi Goldfarb, Mara Lederman
Hirschman's Exit, Voice, and Loyalty highlights the role of "voice" in disciplining firms for low quality. We develop a formal model of voice as a relational contact between firms and consumers and...
View ArticleSubsidizing Fuel Efficient Cars: Evidence from China's Automobile Industry --...
The Chinese automobile market is the largest in the world with annual sales exceeding 20 million vehicles. The tremendous growth in sales---over 200 percent from 2008 to 2015---and concerns over local...
View ArticleExistence of a Radner equilibrium in a model with transaction costs....
We prove the existence of a Radner equilibrium in a model with proportional transaction costs on an infinite time horizon. Two agents receive exogenous, unspanned income and choose between consumption...
View ArticleDemonetization and Its Impact on Employment in India. (arXiv:1702.01686v1...
On November 08, the sudden announcement to demonetization the high denomination currency notes sent tremors all across the country. Given the timing, and socioeconomic and political repercussions of...
View ArticlePerfect hedging under endogenous permanent market impacts....
We model a nonlinear price curve quoted in a market as the utility indifference curve of a representative liquidity supplier. As the utility function we adopt a g-expectation. In contrast to the...
View ArticleHyperbolic Discounting of the Far-Distant Future. (arXiv:1702.01362v1...
We prove an analogue of Weitzman's (1998) famous result that an exponential discounter who is uncertain of the appropriate exponential discount rate should discount the far-distant future using the...
View ArticleMarket Depth and Risk Return Analysis of Dhaka Stock Exchange: An Empirical...
It is customary that when security prices fully reflect all available information, the markets for those securities are said to be efficient. And if markets are inefficient, investors can use available...
View ArticleMonetary value measures in a category of probability spaces....
We generalize the notion of monetary value measures developed with category theory in [Adachi, 2014] by extending their base category from the category \c{hi} to the category of probability spaces Prob...
View ArticleEstimation of a noisy subordinated Brownian Motion via two-scales power...
High frequency based estimation methods for a semiparametric pure-jump subordinated Brownian motion exposed to a small additive microstructure noise are developed building on the two-scales realized...
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Work in the 21st Century: An Introduction to Industrial and Organizational...
Work in the 21st Century, 5th Edition by Frank J. Landy and Jeffrey M. Conte, ties together themes such as diversity, mental and physical ability, personality, interpersonal skills, emotional...
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Yield = Poison (3)
Photo Credit: Brent Moore || Watch the piggies run after scarce yield!read more...
View ArticleGlobal impact of US and euro area unconventional monetary policies: a comparison
The paper analyses and compares the domestic and cross-border effects of US and euro area unconventional monetary policy measures on 24 major advanced and emerging economies, based on an estimated...
View ArticleIOSCO report shows progress made in implementation of Benchmark Principles
IOSCO/MR/01/2017read more...
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