Non-durable Consumption and Housing Net Worth in the Great Recession:...
In an influential paper, Mian, Rao and Sufi (2013) exploit geographic variation in housing supply elasticities to measure the effect of changes in the housing share of net worth on total household...
View ArticleDemocracy for Polarized Committees: The Tale of Blotto's Lieutenants -- by...
In polarized committees, majority voting disenfranchises the minority. Allowing voters to spend freely a fixed budget of votes over multiple issues restores some minority power. However, it also...
View ArticleMacroeconomics of Persistent Slumps -- by Robert E. Hall
In modern economies, sharp increases in unemployment from major adverse shocks result in long periods of abnormal unemployment and low output. This chapter investigates the processes that account for...
View ArticleFamily Ruptures, Stress, and the Mental Health of the Next Generation -- by...
This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of...
View ArticlePricing Assets in an Economy with Two Types of People -- by Roger E.A. Farmer
This paper constructs a general equilibrium model with two types of people where asset price fluctuations are caused by random shocks to the price level that reallocate consumption across generations....
View ArticleParental Responses to Child Support Obligations: Evidence from Administrative...
We leverage non-linearities in Danish child support guidelines and rich administrative data to provide causal estimates of parental behavioral responses to child support obligations. We estimate that a...
View ArticleWhat Do Test Scores Miss? The Importance of Teacher Effects on Non-Test Score...
This paper extends the traditional test-score value-added model of teacher quality to allow for the possibility that teachers affect a variety of student outcomes through their effects on both...
View ArticleIdentifying Ambiguity Shocks in Business Cycle Models Using Survey Data -- by...
We develop a framework to analyze economies with agents facing time-varying concerns for model misspecification. These concerns lead agents to interpret economic outcomes and make decisions through the...
View ArticleOptimal Capital Controls and Real Exchange Rate Policies: A Pecuniary...
A new theoretical literature studies the use of capital controls to prevent financial crises in models in which pecuniary externalities justify government intervention. Within the same theoretical...
View ArticleDeposit Insurance: Theories and Facts -- by Charles W. Calomiris, Matthew...
Economic theories posit that bank liability insurance is designed as serving the public interest by mitigating systemic risk in the banking system through liquidity risk reduction. Political theories...
View ArticleThe Effect of Single-Sex Education on Academic Outcomes and Crime: Fresh...
In 2010, the Ministry of Education in Trinidad and Tobago converted 20 low-performing pilot secondary schools from coed to single-sex. I exploit these conversions to identify the causal effect of...
View ArticleCompulsory Voting, Turnout, and Government Spending: Evidence from Austria --...
We study a unique quasi-experiment in Austria, where compulsory voting laws are changed across Austria's nine states at different times. Analyzing state and national elections from 1949-2010, we show...
View ArticleBryan, Garnier & Co Expands Its Equity Capital Markets Capabilities With...
Bryan, Garnier & Co, the leading pan-European Investment Bank focusing on growth companies, is pleased to announce that Pierre Kiecolt-Wahl has joined the firm as Managing Director, ECM, where he...
View ArticleAbu Dhabi Global Market Sets Out Proposal For FinTech Regulatory Framework In...
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) today published a public consultation paper setting out its proposal for a “Regulatory Laboratory” (“RegLab”), a...
View ArticleDeutsche Börse Cash Market: UBS ETF On Emerging Market Bonds...
A new UBS Global Asset Management bond index ETF has been tradable via Xetra and Börse Frankfurt since Tuesday.read more...
View ArticleHKEX: Re-appointment Of Chairman Approved
Reference is made to the announcement of Hong Kong Exchanges and Clearing Limited (“HKEX”) dated 29 April 2016 in relation to the re-appointment of Mr Chow Chung Kong (“Mr Chow”) as the Chairman of the...
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LME Steel Scrap contract sees first voice-brokered trade
The London Metal Exchange (LME) today announces the first voice-brokered trade of its LME Steel Scrap contract. The trade was executed on 4 May 2016 by INTL FCStone Ltd of behalf of Stemcor.
View ArticleThai Bourse Market Report For April 2016
The Stock Exchange of Thailand (SET) Index was on the rise in April and recorded its highest level of 2016 at 1,423.90 on April 21, underpinned by the increase in global commodity prices, especially...
View ArticleITG Agrees to Sell ITG Investment Research
NEW YORK, May 10, 2016 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading independent broker and financial technology provider, today announced that it has signed a definitive agreement to sell ITG...
View ArticleWarsaw Stock Exchange Monthly Statistics For April 2016
Warsaw Stock Exchange Monthly Statistics for April 2016 are now available:read more...
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