Who Wants Affordable Housing in their Backyard? An Equilibrium Analysis of...
We nonparametrically estimate spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto neighborhood residents by developing a new difference-in-differences style estimator....
View ArticleImage Versus Information: Changing Societal Norms and Optimal Privacy -- by...
We analyze the costs and benefits of using social image to foster virtuous behavior. A Principal seeks to motivate reputation-conscious agents to supply a public good. Each agent chooses how much to...
View ArticleWho Gets Hired? The Importance of Finding an Open Slot -- by Edward P....
A model of hiring into posted job slots suggests hiring is based on comparative advantage: being hired depends not only on one's own skill but also on the skills of other applicants. The model has...
View ArticleThe Economics of Bank Supervision -- by Thomas M. Eisenbach, David O. Lucca,...
We study bank supervision by combining a theoretical model distinguishing supervision from regulation and a novel dataset on work hours of Federal Reserve supervisors. We highlight the trade-offs...
View ArticleThe Effect of Weight on Labor Market Outcomes: an Application of Genetic...
The increase in the prevalence of obesity worldwide has led to great interest in the economic consequences of obesity, but valid and powerful instruments for obesity, which are needed to estimate its...
View ArticleMortality Inequality: The Good News from a County-Level Approach -- by Janet...
Analysts who have concluded that inequality in life expectancy is increasing have generally focused on life expectancy at age 40 to 50. However, we show that among infants, children, and young adults,...
View ArticleThe 'Real' Explanation of the PPP Puzzle -- by Nicholas Ford, Charles Yuji...
This article shows that global financial markets cannot, by themselves, achieve net transfers of financial capital and real interest rate equalisation across countries and that the integration of both...
View ArticleHow a Minimum Carbon Price Commitment Might Help to Internalize the Global...
It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon...
View ArticleUnderstanding the Decline in the Safe Real Interest Rate -- by Robert E. Hall
Over the past few decades, worldwide real interest rates have trended downward. The real interest rate describes the terms of trade between risk-tolerant and risk-averse investors. Debt pays off...
View ArticleCompetition and Bank Liquidity Creation -- by Liangliang Jiang, Ross Levine,...
Does an intensification of competition among banks increase or decrease liquidity creation? By integrating the dynamic process of interstate bank deregulation that lowered barriers to competition...
View ArticleAre Settlements in Patent Litigation Collusive? Evidence from Paragraph IV...
The use of "pay-for-delay" settlements in patent litigation - in which a branded manufacturer and generic entrant settle a Paragraph IV patent challenge and agree to forestall entry - has come under...
View ArticleWhat Motivates Effort? Evidence and Expert Forecasts -- by Stefano...
How much do different monetary and non-monetary motivators induce costly effort? Does the effectiveness line up with the expectations of researchers? We present the results of a large-scale real-effort...
View ArticleColonial American Paper Money and the Quantity Theory of Money: An Extension...
The quantity theory of money is applied to the paper money regimes of seven of the nine British North American colonies south of New England. Individual colonies, and regional groupings of contiguous...
View ArticleThe Macroeconomic Risks of Undesirably Low Inflation
Jonas E. Arias, Christopher Erceg, and Mathias Trabandt | This paper investigates the macroeconomic risks associated with undesirably low inflation using a medium-sized New Keynesian model. We consider...
View ArticleMacroeconomic Dynamics Near the ZLB: A Tale of Two Countries
S. Boragan Aruoba, Pablo Cuba-Borda, and Frank Schorfheide | We compute a sunspot equilibrium in an estimated small-scale New Keynesian model with a zero lower bound (ZLB) constraint on nominal...
View ArticleSEC And Law Enforcement Partners Crack Stock Promotion And Kickback Schemes
The Securities and Exchange Commission today announced fraud charges against 10 individuals involved in schemes to trick investors into buying shares of a particular company stock. read more...
View ArticleEBA Amends Historical Look-Back Approach (HLBA) Method For Calculating...
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View ArticleThe Saudi Stock Exchange (Tadawul) Announces The Amendment Of The Settlement...
The Saudi Stock Exchange (Tadawul) announces the regulatory approval of the Capital Market Authority to amend the settlement cycle of listed securities in the equity market to be within two subsequent...
View ArticleEEX New Participant: J.P. Morgan Securities PLC
J.P. Morgan Securities PLC has been additionally admitted to exchange trading for Freight Financial Options.
View ArticleSaudi Arabia's Capital Market Authority Approves Amendments To The...
In its continuous efforts to improve the capital market environment, in accordance with the strategic objectives of fostering the development of the capital market and expanding the institutional...
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