Macroeconomics of bank capital and liquidity regulations
We study the transmission mechanisms of liquidity and capital regulations as well as their effects on the economy and welfare. We propose a macro-economic model in which a regulator faces the following...
View ArticleNot All Measures of GDP are Created Equal
"Not All Measures of GDP are Created Equal" https://t.co/Xg7cHVlkCW #feedly â Miguel A. Arranz (@miguelarrnz6) December 19, 2016
View ArticleSolar can already generate more energy than oil, says major scientific review...
Solar power is already able to produce more energy than oil and gas for every unit of energy invested. https://t.co/6Zrg8vNedS â moneyscience (@moneyscience)â¦
View ArticleLearning, Confidence, and Business Cycles -- by Cosmin L. Ilut, Hikaru Saijo
We build a tractable heterogeneous-firm business cycle model where firms face Knightian uncertainty about their profitability and learn it through production. The cross-sectional mean of firm-level...
View ArticleEstimating market power Evidence from the US Brewing Industry -- by Jan De...
While inferring markups from demand data is common practice, estimation relies on difficult-to-test assumptions, including a specific model of how firms compete. Alternatively, markups can be inferred...
View ArticleEnergy Efficiency Standards Are More Regressive Than Energy Taxes: Theory and...
Economists promote energy taxes as cost-effective. But policymakers raise concerns about their regressivity, or disproportional burden on poorer families, preferring to set energy efficiency standards...
View ArticleAgricultural Fires and Infant Health -- by Marcos A. Rangel, Tom Vogl
Fire has long served as a tool in agriculture, but this practice's human capital consequences have proved difficult to study. Drawing on data from satellites, air monitors, and vital records, we study...
View ArticleA Behavioral New Keynesian Model -- by Xavier Gabaix
This paper presents a framework for analyzing how bounded rationality affects monetary and fiscal policy. The model is a tractable and parsimonious enrichment of the widely-used New Keynesian model -...
View ArticleHow Destructive is Innovation? -- by Daniel Garcia-Macia, Chang-Tai Hsieh,...
Entrants and incumbents can create new products and displace the products of competitors. Incumbents can also improve their existing products. How much of aggregate productivity growth occurs through...
View ArticleSome Simple Economics of the Blockchain -- by Christian Catalini, Joshua S. Gans
We rely on economic theory to discuss how blockchain technology and cryptocurrencies will influence the rate and direction of innovation. We identify two key costs that are affected by distributed...
View ArticleInterfirm Relationships and Business Performance -- by Jing Cai, Adam Szeidl
We organized business associations for the owner-managers of randomly selected young Chinese firms to study the effect of business networks on firm performance. We randomized 2,800 firms into small...
View ArticleThe Link Between a Happy Spouse and a Healthy You
Scholars William Chopik and Ed O'Brien have conducted some fascinating research on the link between your spouse's happiness and your health. According to the Booth Review, A number of previous studies...
View ArticleThe Topology of Inter-industry Relations from the Portuguese National...
In last years, the Portuguese economy has gone through a severe adjustment process, affecting almost all industrial sectors, the building blocks of economic structures. Research on economic structural...
View ArticleThe Blockchain: A Gentle Four Page Introduction. (arXiv:1612.06244v1 [q-fin.GN])
Blockchain is a distributed database that keeps a chronologically-growing list (chain) of records (blocks) secure from tampering and revision. While computerisation has changed the nature of a ledger...
View ArticleDoes Trump's election victory divide US stock market into winners and...
Many analysts, who had anticipated a great market anxiety resulting in market-wide stock price losses over the event of a Trump presidential victory, remain puzzling through why the market rebounded...
View ArticleA Markovian Model of the Evolving World Input-Output Network....
Using the recently available World Input-Output Database, we modeled the evolving world economic network (from 1995 to 2011) with a series of time-homogeneous finite Markov chains. Next, we...
View ArticleOptimal Investment under Information Driven Contagious Distress....
We introduce a dynamic optimization framework to analyze optimal portfolio allocations within an information driven contagious distress model. The investor allocates his wealth across several stocks...
View ArticleCo-movements in financial fluctuations are anchored to economic fundamentals:...
We show that there exists an empirical linkage between nominal financial networks and the underlying economic fundamentals across countries. We construct the nominal return correlation networks from...
View ArticleThe Barefoot Investor: The Only Money Guide You'll Ever Need
That's a bold claim, given there are already thousands of finance books on the shelves.read more...
View ArticleClimate change threatens ability of insurers to manage risk
Climate change threatens ability of insurers to manage risk. https://t.co/2s864vF8jI â moneyscience (@moneyscience) December 7, 2016
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